Looking for some advice here. Recently sold our rental because the property was too much of a headache and now my wife and I have a decent amount of cash that we are trying to invest with. Our current home is only under my wife’s name and our rental was under mine...we bought before we met and got married. Four kids later she’s a stay at home mom and I have a decent job to support our family...Our original plan was to build and sell because construction cost vs equity gained after it is complete seems like a great idea but we are now trying to consider if we should buy and flip because obtaining a second mortgage on one income is proving to be tough. I’m curious what everyone’s experience is with each method and how financing was obtained for flips. if hard money was used, how does that work, etc. Sorry for the long post and thank you in advance to those who respond!
