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Updated almost 10 years ago on . Most recent reply

User Stats

55
Posts
36
Votes
Clayton Sneider
  • Investor, engineer
  • Longmont, CO
36
Votes |
55
Posts

How to fund the next deal

Clayton Sneider
  • Investor, engineer
  • Longmont, CO
Posted

Hey folks. I am under contract for my first flip (that I might hold as a rental). I have a traditional mortgage on this one. I would like to keep flipping properties, but I am scratching my head to figure out the best way to fund them.

Here is my situation: I have

-Great credit, and decent income.

-about 20K in an IRA

-about 20K in a 401K

-about 130K in equity in my personal residence

-about 35K in a savings account.

How would you go about financing several house flips in an area where most houses go for 200K to 400K?

Thanks.

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