I’m almost foreclosed

[German Torres]

Hi BP I hope to find some words of true north.

I flip a house last year and 54k was my gain, so I was feeling on top of the world, that I knew everything so I went and bought 3 more house to be rentals, different prices and location, all in Houston area, using Hard Money, after 5 moths first house was completed and rented and I just refinanced with 50k equity ( no cash out), second one 130 k equity no refinanced yet took 4 moths to rehab and the 3er one is at 10 % of the rehab.

I run out of money, I have like 80k on credit cards and the loans are coming to maturity.

What can I do?…

[Joe Villeneuve]

Quote from @German Torres:

Quote from @Joe Villeneuve:

Sell the second house.  This isn't that tough of  question...or at least it shouldn't be.

 Hi @Joe Villeneuve, yes isn’t that tough but the second property is the house that I’ll use as primery  residence on 2 years…

Then sell the first..or the last one as is, or choose a different house to live in after you stabilize your REI financial situation.