What should I do with 15K and a 20K IRA?

[Sidney S.]

Hi everyone!

My husband and I live in Centreville, VA (Northern Virginia) and already have a rental property in Atlanta. We want to do some flips to gain more capital.

We would like to invest outside of our area since it's extremely expensive. We're currently interested in Chicago and Baltimore. 

Right now we have 15K cash and 20K in an IRA. We are also eligible to receive a bundled mortgage + rehab loan (not the 203K loan) for a property up to 150K. What should we do with it?

[Gabriel G.]

@Sidney S. I think it depends on your situation. Do you work full time? How involved do you want to be with your investments? have you ever flipped before? I'm a newbie but I believe that flipping is harder (not impossible) to do long distance. You will probably need to have a solid team that you can rely on before you can do something long distance. Just my $0.02...