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Updated over 5 years ago on . Most recent reply

Chang Xiong's profile image
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Chang Xiong
  • from IL
  • Member since Oct 13, 2019
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Chang Xiong's profile image
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Chang Xiong
  • from IL
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Chang Xiong
  • IL
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Rehabbing & House Flipping

First flip - need help

Chang Xiong
  • IL
Posted

How did you finance your first flip?

How much reserves should I have saved up?

Thanks.

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J Scott
  • Investor
  • Sarasota, FL
ModeratorReplied
In terms of reserves, I would have enough money to finish the project, plus an extra 15% on the rehab costs and an extra 3 months of holding costs (mortgage payment, taxes, insurance, lawn care, etc).

  • J Scott
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