Cash Influx - Pay Down Flip Expenses or Hold Onto?
Hi all!
I've come into some recent cash while also being in the midst of my first flip, funded by a private loan and a Line of Credit.
J Scott's recent interview on the BP podcast discussed the inevitable economic depression that is coming and the wisdom of preparing by both keeping borrowing low, but also, holding onto your cash for reserves. The two seem to be at odds. I'm debating whether to pay down some flip expenses, thereby reducing holding costs (we're now 2.5 months past the initial deadline).
I welcome any input. What are others doing in keeping this balance of borrowing/maintaining reserves?
@ J Scott