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Updated over 8 years ago on . Most recent reply

User Stats

43
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4
Votes
Jordan Buie
  • Rental Property Investor
  • Nashville, TN
4
Votes |
43
Posts

Live here 2 years or keep and get another primary

Jordan Buie
  • Rental Property Investor
  • Nashville, TN
Posted

Hello Bigger Pockets friends, I have a unique situation I've been mulling over for some time now and decision-making time is coming soon. So I purchased a home with an FHA loan, I've lived here for the required year and now I have the option to continue living in this home another year to avoid paying capital gains tax down the road-should I ever choose to sell it-or to go ahead, convert this home into an investment property and buy another primary residence with little to no money down and lock in a great interest rate while the last? I'm considering the pros and cons. Any advice appreciated.

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