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Updated over 9 years ago on . Most recent reply

User Stats

10
Posts
1
Votes
Charles P.
  • Retail Manager
  • Cumming, GA
1
Votes |
10
Posts

What is the best way to finance a simple flip deal?

Charles P.
  • Retail Manager
  • Cumming, GA
Posted

A little background...I own a rental and a personal residence. I have flipped one house right before the real estate crash in late 2007. My rental has appreciated since 2008 when I bought in and I plan on renovating and selling for a good profit. I'm selling my own house and because of great location and renos I should make a good profit on this as well. If all goes well, I should have $90,000 in the bank after finding a new residence with down payment and all expenses paid off, etc.

Question is...with $90,000 in the bank, what is the best way to finance deals? I would like to also buy houses through auction. Thank you

P.S.-I used hard money on that flip I did in 2007

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