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I cannot make a decision whether I should use some of my funds to buy a primary residence or for more business.

Currently, I have about a couple hundred grand. I used about half of it to fund my one flip that I am doing right now. I recently sold my first flip this year, yielding a profit of about roughly $100k, within a 3 month span. I'm currently doing my second for the year, which should yield about $170k. I wanted to use my other half of the funds to fund another potential flip. But I really love this one house I saw pop up on the market, to live in.

Making money is definitely a priority to me right now. I started my flipping business last year. However, I live in a very toxic environment. My brother once in awhile fights with my father and I that he owns the house. And I really want to just move out of there. Currently, we live rent free. Which is incredibly awesome. But now that I'm making some money, I just feel for my mental sanity I want to move out. And buy my own place. My mother passed away also due to the amount of pressure and stress my brother had put on her, because he felt he owned the house. I don't want my dad to go through all that stress that my mom had to either. He's getting older now.

The house I'm interested in getting is at $1.2m. I have saved $245k, including down payment and 12 months of reserves. Based off what I had mentioned, should I continue to just use my funds to flip a few more houses til I buy a primary home? Or just go for buying that house?

submitted by /u/steviesesh
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/tq5a66/i_cannot_make_a_decision_whether_i_should_use/
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