I‘m in need of a new strategy !

8 Replies

I purchased a home in the Los Angeles area of Lake Balboa, which I planed to do a “live-in flip”. I’m in the military so I knew I would be moving in a few years after buying. I’ve done a few projects (nothing major). I purchased the home for $465,000. Houses in the surrounding area sell between $600,000-$800,000. Now that it’s getting close to the time for me to leave, I’m rethinking my strategy. Lately I’ve been entertaining the idea of partnering with someone who has experience flipping houses.

Since I already own the home I figure we could split the profit from the sell or from the refinance. Any suggestions?

So you want to partner up with a contractor that will do the work and you split the extra upside?

I have someone OC that would do that. Its a good idea

The other thing is you might be able to go it alone. 

Pull out some rehab money, clean it up, update it and sell it. You might be able to make as much as if you split it with someone

I have a builder in Orange County with 40 years of experience who may want to JV with you, send me a PM and I will put you in touch with him. He is just completing a $3.5mm fix and flip in Capistrano Beach.

Originally posted by @Gabriel Fairman :

I purchased a home in the Los Angeles area of Lake Balboa, which I planed to do a “live-in flip”. I’m in the military so I knew I would be moving in a few years after buying. I’ve done a few projects (nothing major). I purchased the home for $465,000. Houses in the surrounding area sell between $600,000-$800,000. Now that it’s getting close to the time for me to leave, I’m rethinking my strategy. Lately I’ve been entertaining the idea of partnering with someone who has experience flipping houses.

Since I already own the home I figure we could split the profit from the sell or from the refinance. Any suggestions?

 did you acutally live in it for the last 2 years if so take your tax free money

Exhibit “A”

Originally posted by @Gabriel Fairman :

@Jay Hinrichs I will have been in there 2 years in a few months. I've also considered that as well. Due to the fact I used a VA Lon so I didn't have to put anything down.

 ya then hands down just sell and take your profit TAX free is what I would do.. other options have different risk profiles..