Due to this I've decided to work 3 more years, build up a sufficient bank roll then quit my job as a Carpenter & become a full-time Flipper.Of coarse I have tons to learn before embarking on this but I have all the enthusiasm and motivation in the world!

When I had finally paid it off, I was so used to that money coming in going out to service my debt, that I very quickly had a huge bank roll to invest with.So my advice would be to just learn to master your finances and pay the debt off.

Where most people, I suspect, get into trouble is that they do not bankroll the wads for a rainy day, and instead use the returns to either create an empire with too many risky properties, or use it to fuel a consumption lifestyle that isn't warranted with a decent amount of debt to service.

I think you have 2 options: keep scouring the market for a value add deal (an ugly house, something that needs a lot of cosmetic updates, is in a transitional area, or has a funky layout), or explore some options to add to your bankroll before buying anything.I was in the same boat as you are a few years ago in an equally red hot market, and it took me nearly a year of looking before I found a deal I could afford and knew I could add value to.

I have been thinking about buying a duplex and living in it in one half with a buddy and then renting out the other till i gain some bankroll to start buying others.

After a year (if the mortgage broker confirms a year is sufficient), do this again with a new primary residence, and on and on.Get started- and before you know it, you'll be bank rolled, asset rich, and a nice passive income to help you qualify for jumbo loans for bigger and better cash cows.

However, I don't think I will be investing in D.C. unless I can bankroll a high-quality lawyer and I have a few more years of experience under my belt.

Can't wait to accumulate that bankroll I need to flip full-time...A few rules I abide by:-Buy the worst looking house in the best neighborhood with a solid foundation.

We have a home in Silicon Valley with approx $200-250k in equity (depending on which RE Agent we speak with) and which we are willing to sell to help bankroll our business.

What good is a big bank role with a small character?