203K Buy, Rehab, Live in, Sell
Hey Guys -
I initially wanted to buy a multi and house-hack my way into real estate investing.
Would buying a house with a 203k, fixing it up, living in it and selling it be another strategy? Is there money in this?
I think the downside here would be if I sell it less than 2 years I have to pay cap gains? Or maybe, I could live in it for a bit, save up and move out to rent it?
The biggest issue is the downpayment in the greater Boston area are crazy!
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Additionally, I have a local lender who told me yesterday he closed one in 23 days! So it doesn't have to be as long and ugly as people make it sound.