Flip Your Way To Wealth with a Live in Flip

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Venturing into the world of real estate is intimidating. Whether you are making your first purchase of a personal residence or starting a business as a real estate investor, there are many unknowns along the way.

[{"selector":"#anim-ee7fa4f1-5cad-4064-9ee3-cef6adfcb73c [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":5000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-2871ff7d-7a00-4fed-b95f-e07e56e80025","keyframes":{"opacity":[0,1]},"delay":100,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-9891b18d-a4a6-4655-949e-9564b6a58ae5","keyframes":{"transform":["translate3d(-115.35948%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":100,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Learn more

Flipping houses is one way to venture in. It requires an investor to find a great deal, fix it up, and then have a resale value higher than the original price plus repair costs.

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You can combine the benefits of homeownership and real estate investing with a live-in flip! Here are some pros and cons

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A live-in flip is a fixer upper that you live in while fixing up. You will generally get a great deal because the house needs work, and as you fix it, the home will increase in value

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You’ll be able to take advantage of a lower down payment and a lower rate by purchasing a live-in flip as a primary residence.

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Not paying capital gains tax when you sell your home is the biggest advantage of a live-in flip. If you live in a property for two of the last five years before selling your home, you would be exempt from paying any taxes on the increased price compared to the purchase price.

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As lovely as it may be to do your work without leaving the house, it also means your home will be a construction zone and some parts may be unusable

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Even if your plan going into a live-in flip is to sell after two years, you should have a backup plan in case the housing market tanks. You may have to live in the flip longer than anticipated

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SWIPE UP FOR MORE!

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Flip Your Way To Wealth with a Live in Flip

Venturing into the world of real estate is intimidating. Whether you are making your first purchase of a personal residence or starting a business as a real estate investor, there are many unknowns along the way.

Flipping houses is one way to venture in. It requires an investor to find a great deal, fix it up, and then have a resale value higher than the original price plus repair costs.

You can combine the benefits of homeownership and real estate investing with a live-in flip! Here are some pros and cons

A live-in flip is a fixer upper that you live in while fixing up. You will generally get a great deal because the house needs work, and as you fix it, the home will increase in value

What is a Live-in Flip?

You’ll be able to take advantage of a lower down payment and a lower rate by purchasing a live-in flip as a primary residence.

Lower Interest Rate and Down Payment

Not paying capital gains tax when you sell your home is the biggest advantage of a live-in flip. If you live in a property for two of the last five years before selling your home, you would be exempt from paying any taxes on the increased price compared to the purchase price.

Taxes

As lovely as it may be to do your work without leaving the house, it also means your home will be a construction zone and some parts may be unusable

Home is a Construction Zone

Even if your plan going into a live-in flip is to sell after two years, you should have a backup plan in case the housing market tanks. You may have to live in the flip longer than anticipated

Market Could Tank

SWIPE UP FOR MORE!

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