Question For Rich W...Heeeeey Riiichh

[Travis Elliott]

[b]You posted this before

""f you have the ability to build a home and a flexible wife, MOVE often if property is appreciating in your area. Many years ago, you could sell your personal residence ONE time in your life, at age 55 or older and take the first 125K tax free(250K if married). This rule was changed and now ; there is no age requirement, you can do it over and over again and make 500K EACH time tax free.I did this 4 times in UTAH, never left the neighborhood, and made about 600-700K TAX free. That is like after taxes earnings of near a million dollars""""

Is that still plausible in2011? Do I need to build a house for this to work or can I buy and sell primary homes?

Any input would be appreciated

PS- This is open to more than just Rich

Travis

[Account Closed]

while there's no outstanding appreciation coming most likely, you can force the appreciation by buying a rehab fixer upper..instead of flipping it, live in it for 2 years and then sell, and enjoy tax free cash!