Fit Small Business: Get Your Business Into Shape! › Forums › Ask a Question › I know I’m very fortunate, so what do you recommend? › Reply To: I know I’m very fortunate, so what do you recommend?
Hi Arthur: Thanks for visiting our site and asking a question. It sounds like your first flip went very well. A HELOC sounds like it would be a good option for you. If you need additional funds, you may want to look into a hard money loan so you can buy another property to fix and flip. These are generally short term, interest only loans that can finance the acquisition and renovations on an investment property. You would pay back the loan with the proceeds from selling the property. Here’s a link to an article I wrote on starting your own house flipping business. https://fitsmallbusiness.com/how-to-start-your-own-house-flipping-business/
Keep visiting the site because we have some great upcoming articles including one on a house flipping business plan that includes free templates.
Best of luck,