Advice for turning rental into a flip

[Daniel Tisdale]

Hi all,

I have an old 1962 house in Austin, TX that has been used as rental for the past 2.5 years. This was originally my primary residence and I am trying to get advice on how I might be able to rebuild a new property and flip it. How does someone typically finance these types of projects? I bought the property at about 2/3 of the current value and would hate to have to sell it to a developer to reap the benefits, but I don’t have the cash on hand to rebuild it myself.

What does someone typically do in my situation?

Thanks,

Daniel