Ultimate Finance Knowhow

Free Indeed asked:


I’m planning to flip a house in the midwest, but I’m not sure how to go about financing. I plan to purchase the house for $130k, spend $20k in repairs, and sell for $160k. I would need to finance the purchase and repairs.

1) I don’t know what type of loan to go with

2) I don’t know if it’s better to go to a bank, like National City, a financing company, like CitiFinancial, or a different type of company…

Elsie

Random Guy from Texas asked:


Having an interesting disscussion with someone who claims to be a CPA for 30 years and can’t name them.
To be fair to him, I will ask the business and finance community what they think the two most important principles are. Your opinion, and maybe I will learn something new for myself in the answers.
I mean finance in general, and this is more of a book-type question of technical principles, a bit like asking what law of motion is most important when attempting to understand the trajectory of a rocket?

Kaye