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Updated almost 7 years ago,

User Stats

37
Posts
12
Votes
Paul Aqua
  • Property Manager
  • Sacramento, CA
12
Votes |
37
Posts

Should I save money for a rental or use money to flip homes?

Paul Aqua
  • Property Manager
  • Sacramento, CA
Posted

Hello! I have a little bit of money saved up and will have around 30K by the end of May. I know how to find great deals on rentals ( outside of California) but I also was wondering if it might be better to use that 30k towards getting  several hard money loans and flipping a couple homes. based on the comps on the homes I have looked at The average home I have been looking at ranges from 50-85K and need anywhere from 5,000 all the way up to 35,000 in repairs. estimated profit after loans and commission on each deal ranges from 15,000 all the way up to 55,000. I am just curious on what You would do if you were in my situation.

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