New investor form Lebanon Tennessee

New investor form Lebanon Tennessee

Realtor · Lebanon Tennessee · Member since 2016 · 72 posts · 32 votes

Hello BP returning to the forums after a long layoff. I'll give a bit of my real estate backstory

My name is Anthony Phillips. I just moved from Santa Clarita CA to Lebanon TN.

I have anyways been interested in real estate investing. I just didn't think I had the money or knowledge to do it successfully. With the equity I made off the sale of my home and the learning I have done I am in escrow on my first investment property. 

I bought my first SFH in 2014 in Santa Clarita CA I house hacked that property for the majority of the time. Remolding and upgrading the house over the years to add value.
Purchase price 2014- $385,000

Sale price 2021- $695,500

Purchased personal SFH 2021- $530,000 in Lebanon TN

Under contract on a Investment SFH 2021- $235,000 in Lebanon TN

I close on that property in 3 weeks.

I will rehab that property mostly on my own and plan on advertising and managing the property by myself.

I hope to learn a lot through this first investment property and continue on buying more property's.

I would like to find a mentor through bigger pockets or other means to really get invested in the real estate world. I would like to learn as much as possible.

Thanks for taking the time to read this.

Anthony Phillips

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  • Kissimmee, FL · Member since 2018 · 150 posts · 27 votes
    4y

    Were you able to claim $250k tax exemption on capital gains from sale of your first sfh?

  • Realtor · Lebanon Tennessee · Member since 2016 · 72 posts · 32 votes
    4y

    Yes I am married so that would give me a $500k tax exemption. 

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