Buying with 203K loan.

[Richard Rhyne]

Hey everyone, i am new to Realestate and wanted some advice on what would be a better way to go. I want to buy a house to live and flip. Then after a year or sooner rent it out. What would be the best way to go. Would it be better to get a 203k loan or raise more capital threw other loans?

[John Mainwaring]

A great way to do a live-in flip, don’t expect to move out until year one is over though.  You may even decide to stay a couple years to get the 2 out of 5 exemption.  In the future we will be using this finance method for the heavy lifting projects and finish the fine details ourselves.  I’ve found that the approved contractors have to be kept on a short rope as they can get wild with their bids pretty quickly.