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Updated 11 months ago on . Most recent reply

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11
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10
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Michael Orlando
10
Votes |
11
Posts

Live in flip financing advice

Michael Orlando
Posted

Hello, I am thinking about changing my real estate strategy for my next property. I currently house hack a duplex. I bought it in 2021 with a conventional loan 20% down. It will cash flow around 1200-1300 once I move out. I also renovated the bathrooms and one of the kitchens. 

I think doing a live in flip will help me get more funds to hopefully house hack in a nicer area than I am now. 

My questions is what kind of financing do you suggest I look into. Will it be hard to get a hard money loan if I never flipped a house before?  Would you do a refinance on my current duplex?  I’m not sure how refinancing works but I’m hesitant to mess with my cash flow for that property. I also have a 3.5 interest rate. If I refinanced will I be able to keep the 3.5 interest rate?  Thank you for your time. 

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