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Updated over 6 years ago on . Most recent reply
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Ride the Momentum or Slow My Roll?
I am starting to get more quality leads than I can handle financially, but I know I could make it work by taking on some extra risk (balance transfer from credit cards). I have an income from my job, but this doesn't cover all bills, leaving real estate to cover the rest. To this point, I have been successful in covering my costs of living plus enjoying the extras in life through flipping houses, but I would like to scale. My dilemma is that I've got my cash tied up in 2 flips at the moment, and I'm getting more quality leads than ever before. Should I just turn these deals away to avoid taking on more than I can financially handle, or should I risk it all by taking balance transfers from credit cards to purchase these additional deals? My real concern is covering so many payments every month, since flipping comes with such a delayed payday. Is this just typical growing pains for a growing real estate investor?
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- Real Estate Broker / Investor
- Austin, TX
- 449
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@Alex Deacon Agree 100%
+
Find a way to monetize the additional leads, wholesale, sell them, no risk partnerships, etc... Never leave meat on the bone. Sometimes you eat like an elephant and sometimes you eat like an ant.... Either way, keep eating.
- Danny Webber