Should I Leverage My Flip Property??
Hello BP,
I am coming toward to the end of my first flip property (so many lessons learned!) and the contractor is dragging his feet to finish minor repairs (light covers, clean the home, minor corrections, etc.). The biggest hold up is the vinyl siding being installed in the cold winter here in Chicago. The contractor says it’s too cold but siding companies told me they could and would install in the current weather. I don’t want to do a “coming soon” without a picture of the front of the house.
Without knowing exactly when this property will be completed, ready for sale and how long it will take to get an offer, I was wondering should I leverage this property (I used HELOC to fund this property) and start looking for the next flip or should just wait until I sell this property first??