Should I use all of my Cash or use Bank's Money

[Jason Kim]

Hello all,

I am going to be buying a house to flip within a month or two but before I start I would like to get your opinions how to use "Our Money" for investing in real estate.

Me and my wife currently have 65k in our savings and would like to use it to start our RE flipping business. She will be still working at her company(nets about 2500/month), and I will be working part time(will net about 2000/month) at my current job and part time working on RE acquiring properties and will have GC to manage the project full time.

We are going to buy a SFH(30-40k) and the cost of the rehab will be about 20-30k. I've talked to one of the bank and they have qualified me to get a loan of 30k(can be used for rehab), but I'm not sure if it's better to use bank's money with all the interest fees or just use my own cash if I have it.

We don't have any kids or debts to pay on a monthly basis except our rent and car payment and regular monthly expenses which can be covered by my wife's and my current income combined.

We are looking for the best way to get a good start of our business, therefore your suggestions or lessons or answers will be highly appreciated!

Thank you.