Anybody else doing a “live in flip”

1 Reply

Me and my fiancé recently just bought our first home and are doing all the “flip” work ourselves. Being in our lower 20’s we still both live at home but are getting married in September. She will be graduated from nursing school in may and the house should be done in a few months then I️ will move in and she will move in once we’re married. We are excited for this next step in our lives. Mainly just looking to see if somebody else has bought a fixer upper and done the work themselves and if there was any profit selling it after living in it a couple years (to avoid capital gains) Thanks!

I have basically done that twice. Difference is I did not sell the homes I rented them when completed.  I double my money on paper. I have $60k in my current home and it appraised for $120k 1 yr later when it was complete. I got a home equity line of credit and bought 5 or 6 more houses. 

Only issue is if your wife will still be your wife when your done. I don't think my wife will go for a 3rd. We make enough now she would likely get a hotel room until I was done with the renovations. 

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