how many houses do you hold at a time?

Question

ok so. i am still new at flipping. our first one went great! on budget (a little over) not much over time budget.( 40 days from closing to on market)

now it has been on the market 33 days.

i paid cash for the property and rehab.

but... now... im gonna need some more cash.

i could get financing to fund another flip and after we sell this first house we will have money to buy 2, but as i play all of this out long term i would rather not be holding 2,3,4 properties at a time. i noticed that it takes much less time to rehab than sell the property.

so i guess my question is 2 part.

: how do you sell your house so quickly? as per @J Scott our house is nicer than our comps and our price is at the median price per square in the neighboorhood. and it is a great neighborhood. average dom is 38. and our home is at 210000 and the high on the market in hood is 274000.

:how many flip homes do you have at one time, and how do you afford that without a boatload of cash? ... and still pay your own bills :)

also if @J Scott is out there, i noticed that in your first flips you had a few at a time. how did you do this? i cant stand doing nothing, but i seem to be in a stalemate until i sell this house. any help is welcome.

thanks in advance,

J.D.

Brian Pulaski · Answer

I had 3 at one time. One in the middle of renovation, one under contract and one I just acquired. It was difficult making myself at the 3 properties on a daily basis, and still try anD be productive physically working on one. I have two now, and it is still challenging juggling both. If your less hands on and more about managing, then I could see having 4-6 at a time. If you are hands on with a lot of the work, 2 is more than enough.

Manolo D. · Answer

Leverage it. You only have to go 25% cash out and you can do private or hml.

J.D. Holifield · Answer

thanks. oddly enough i did not think of that.

i wanted to mainly figure out how many houses should i hold?

whatever i can afford?

leverage everything out? or only half? is there an equation?

thanks. keep the advice comming. all is welcome