Hi my name is Kyle Mack and my wife and i recently moved into a new house for $40k under market. Well a few months back a comparable house just down the street sold for $135k more than we bought ours for. So when we heard that we started our remodel to flip this house and start getting into the real estate investing game!
The situation I’m in and looking for advice for is that my wife and I don’t know quite what to do with the profit.
Option 1: Buy a duplex and live in one side for a while and rent the other side out. Then when we are ready to build keep the duplex as cash flow and continue to invest in flip house or possibly more rentals.
Option 2: Buy another single family home that needs renovations to live in and while we live there remodel it and eventually sell it as well to make another good profit. In the meantime we would have enough money in the bank to be able to buy another cheaper flip house and hire a contractor to do the remodel and flip it for a profit as well.
Thank you so much for the advice in advance!
