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Updated about 12 years ago on . Most recent reply

Shannon X.'s profile image
Shannon X.'s profile image
Shannon X.
  • Real Estate Investor
  • from Center Moriches, New York
  • Member since Sep 1, 2011
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Shannon X.'s profile image
Shannon X.'s profile image
Shannon X.
  • Real Estate Investor
  • from Center Moriches, New York
  • Member since Sep 1, 2011
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Shannon X.
  • Real Estate Investor
  • Center Moriches, NY
4
Votes |
163
Posts
Rehabbing & House Flipping

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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Shane Johnson's profile image
Shane Johnson's profile image
Shane Johnson
  • from Hudson, WI
  • Member since Jan 11, 2012
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Shane Johnson's profile image
Shane Johnson's profile image
Shane Johnson
  • from Hudson, WI
  • Member since Jan 11, 2012
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Shane Johnson
  • Hudson, WI
30
Votes |
189
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Shane Johnson
  • Hudson, WI
Replied

If you bought it at 200k and sold at 250k, did you rehab it for free? Steal all the materials? Lol

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