Buying my first flip

[Jaime Salinas]

I currently have a condo and have some equity in the house partly siento large initial down payment and appreciation of the property. How can I purchase my next house if my income has not changed since I first purchased ?

[John Warren]

@Jaime Salinas are you looking to buy a property flip or buy a property hold? Your post doesn't give much in the way of detail. I just finished up rehabbing a flip here in Berwyn, which is a great market for flipping. I can tell you that you need plenty of capital to flip, and that income cannot be an issue. Buying rentals is a different story, as the income from the property can help you qualify for the loan. I personally lean towards buying property to rent for newer investors, as flipping is a capital intensive sport that pays off only after holding a property for 6 months to a year!