Paterson, NJ · Member since 2017 · 21 posts · 6 votes
I am so excited to get started in flipping. I've been interested in it for years and I'm so glad I found Biggerpockets to help me get started. Should I take out a loan from my credit union to pay off my cc bills and a down payment on a flip?
BOISE, ID · Member since 2014 · 77 posts · 45 votes
8y
Welcome to BP @Luis Soto! I recommend starting by reading up on flipping in the forums and blog. J Scott wrote a great book on flipping that is available in the store. Armed with some knowledge you can come up with a gameplan and execute.
I personally would not take out a loan for the cc and a down payment. Work hard, pay off your credit card, and save up for the first down payment. You dont want to over leverage yourself especially on your first deal.
BOISE, ID · Member since 2014 · 77 posts · 45 votes
8y
Welcome to BP @Luis Soto! I recommend starting by reading up on flipping in the forums and blog. J Scott wrote a great book on flipping that is available in the store. Armed with some knowledge you can come up with a gameplan and execute.
I personally would not take out a loan for the cc and a down payment. Work hard, pay off your credit card, and save up for the first down payment. You dont want to over leverage yourself especially on your first deal.
Investor · Paterson, NJ · Member since 2017 · 16 posts · 3 votes
8y
Welcome to BP Luis.
Great advise from @Wes woodhouse.
I don’t consider my self an experienced REI yet. I Have done only one deal “a very profitable one tho” I’m from the area “P-TOWN” perhaps you want to talk real estate while having a slice of pizza or a beer.
Let me know.
Specialist · Delran, NJ · Member since 2016 · 2k+ posts · 951 votes
8y
Welcome to BP @Luis Soto! In order to tag someone type the @ symbol followed by the first few letters of their handle and they should pop up as a tag option so long as they've already chimed in on the topic or are colleagues of yours.
What draws you to flipping? Do you have an unfair advantage in the arena to help give you a head start such as contracting experience, appraisal experience etc?
Paterson, NJ · Member since 2017 · 21 posts · 6 votes
8y
I've always been interested in flipping. I just was never able to put in the time or have the knowledge to start. Now that BP is around I can see myself grow in the flipping industry.