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Updated about 5 years ago on . Most recent reply
100k profit on 1st flip- now what?
I’m about to finish up my first flip! I’m so excited! I’ve always said “ if I just had 100k I’d turn it into 100 million...
Welll.. now what haha.
We are going to profit about 200k (hopefully more) off this flip. My cut will be 100k. I want to be smart with my next move and appreciate any suggestions!
I have a about 60k in student loan debt but I’m not sure if I should pay that off or keep re investing this money. I’ve become obsessed with listening to all the BP podcasts, they are so helpful! I want to eventually buy rental properties and keep flipping.
I’m still learning about the money side of investing and all the different ways to fund deals. I live in Boston, MA currently so out of state investing has interested me a lot!
Any help/ suggestions/ guidance is greatly appreciated! :)
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#2 Land & New Construction Contributor
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- Charlottesville, VA
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#2 Land & New Construction Contributor
- Developer
- Charlottesville, VA
Originally posted by @Brenna Crowe:
I’m about to finish up my first flip! I’m so excited! I’ve always said “ if I just had 100k I’d turn it into 100 million...
Welll.. now what haha.
We are going to profit about 200k (hopefully more) off this flip. My cut will be 100k. I want to be smart with my next move and appreciate any suggestions!
I have a about 60k in student loan debt but I’m not sure if I should pay that off or keep re investing this money. I’ve become obsessed with listening to all the BP podcasts, they are so helpful! I want to eventually buy rental properties and keep flipping.
I’m still learning about the money side of investing and all the different ways to fund deals. I live in Boston, MA currently so out of state investing has interested me a lot!
Any help/ suggestions/ guidance is greatly appreciated! :)
Do as many flips like this as you can right now. Do not use the cash to pay off the loans. Use it to to cover you while you keep flipping as many properties as you can right now while the market is hot because it will not be this hot forever so you want to make as much cash as you can right now, invest the cash into multifamily properties then pay of loans with cashflow from the rental properties.