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Samira King
  • winnetka, CA
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Sell my home or AIR BNB?

Samira King
  • winnetka, CA
Posted Jun 12 2019, 09:44

Hi everyone, im looking for some advice regarding selling my home and using the equity ($154k after seller cost)  to purchase a duplex or keeping my home and doing AIR- BNB at the same time taking out a hardmoney / private  loan on the property to purchase a live-in flip?

The property is in southern California

any suggestions?

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Caleb Jordan
  • Lender
  • Arlington, TX
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Caleb Jordan
  • Lender
  • Arlington, TX
Replied Jun 12 2019, 11:17
Originally posted by @Samira King:

Hi everyone, im looking for some advice regarding selling my home and using the equity ($154k after seller cost)  to purchase a duplex or keeping my home and doing AIR- BNB at the same time taking out a hardmoney / private  loan on the property to purchase a live-in flip?

The property is in southern California

any suggestions?

 So are you talking about doing a cash out loan on the current house and using money for a flip. Or getting a hard money loan for purchase of a live in flip? You cannot get hard money loans on anything that is owner occupied. 

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Samira King
  • winnetka, CA
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Samira King
  • winnetka, CA
Replied Jun 12 2019, 22:44

Caleb, thank you for the reply.... cash out loan on the current house and using money for a flip. 

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