House Hacking to avoid capital gains
Investment Info:
Single-family residence fix & flip investment.
Purchase price: $195,000
Cash invested: $3,000
I purchased this property to House Hack it with my son currently living in it while it undergoes renovations. He's a college student in the area and will be there for at least 2 years. Once sold, there will be no taxes due to capital gains, due to the $250,000 exclusion.
What made you interested in investing in this type of deal?
Avoiding capital gains while living in one unit and renting the others
How did you find this deal and how did you negotiate it?
ON the MLS
How did you finance this deal?
Traditional Financing
How did you add value to the deal?
Reduced capital contribution for my son who is living in the property
What was the outcome?
Ongoing & Successful
Lessons learned? Challenges?
Don't let your emotions get in the way of making a business or financial decision, no matter what. The numbers must work
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I am a Realtor for almost 2 decades. I'm happy to work with anyone seeking an investor friendly and knowledgeable agent.