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James Robert
  • Flipper/Rehabber
  • Cincinnati, OH
26
Votes |
70
Posts

How to structure my move

James Robert
  • Flipper/Rehabber
  • Cincinnati, OH
Posted Feb 4 2024, 14:27

I am a house flipper. Was a Realtor then switched to primarily house flipping because I am better at it and pays more for me personally. 26 year old (almost 27) single guy. I own a house in Hyde park Cincinnati which is prime area 3 bed 2 bath that I live in with my roommate. I want to move to St pete florida.. as the years go by I want to do this before I get too comfortable to move. I would be renting out my primary either LTR, MTR or STR. Don't know yet. I would be continuing to buy flips in Cincinnati and manage them remotely the eventually dabble in the florida market once I have been there a bit and know whats what.

With these house flips I take a lot of write offs so my income on paper is not enough to buy a house in St pete. After my current flip sells In around end of feb, mid march should have around 125k liquid cash after that sale. Should I just rent for a year (or 6 months) in St pete and see what areas I like and see how I like it in general or eat my tax bill for 2023, be able to show more income and try to buy something in st pete? Problem with this is I probably could not buy downtown where I want to live and meet new people. It would have to be not so close to downtown. 

Thanks!

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