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Updated about 12 years ago,

User Stats

163
Posts
4
Votes
Shannon X.
  • Real Estate Investor
  • Center Moriches, NY
4
Votes |
163
Posts

After the first flip... (Noob question)

Shannon X.
  • Real Estate Investor
  • Center Moriches, NY
Posted

This is a basic question that I have been curious about, let's say you purchase your first rehab with a loan from the bank for $200,000 and you sell the rehab for $250,000. Now would you pay the bank loan off right away or pay it off during time and use that money from your first flip to purchase another house? If you do pay the bank back in full right away what would you do with your 50K profit? do you save it or use it towards the next project?

Thank You!

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