Updated almost 13 years ago on . Most recent reply
After the first flip... (Noob question)
This is a basic question that I have been curious about, let's say you purchase your first rehab with a loan from the bank for $200,000 and you sell the rehab for $250,000. Now would you pay the bank loan off right away or pay it off during time and use that money from your first flip to purchase another house? If you do pay the bank back in full right away what would you do with your 50K profit? do you save it or use it towards the next project?
Thank You!
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If you bought it at 200k and sold at 250k, did you rehab it for free? Steal all the materials? Lol