All Forum Posts by: Vilena G.

Thank you very much Blake! I will check my numbers and make a decision!

Thank you Marian! I don't have pets and the house is big, it's a little over 3300 sq/ft and I think I won't feel pressure if I will live there while it's on the market. 

Hi Biggerpockets family,

We are remodeling complete rehab, which is a big house 3,311 sq/ft, 4 bdr/3bath and a garage. We bought it to flip it, but had been thinking if it make more sense to brrrrrr it, I like brrrrr strategy, but this house is pretty big to find tenants, so maybe it's not a good house for brrrr? It's also our first investment property, so we are newbies!

Would really appreciate your opinions!

Sincerely,

V

Hi Michael, 

So what did you do in the end? I am in a similar situation and remodeling a flip and renting a place, it probably would take me another months to finish it if I decide to move into it, so it is mot much work would be left to do. So what did you do in the end and were you happy making that decision?

Hi Becca,

I am in a similar situation, what had you done, did you move into flip or what exactly happened?

I know it had been many years but I want to know what you did and was it a goos decision, I am in the same situation although I am renting and my rent is finishing in 2 months and flip won't be ready but just ready for me to move into it if I decide 

@David M.

Sounds good! Thank you David! I just checked with my apartment, they can do months to months for same price I’m paying now. If I decide to stay and not to move into flip. I guess after putting it on the market I can see how much action from buyers we will have and If it doesn’t sell fast, I can move into and refinance and live there until we sell it.

@David M.

Oh that’s right, David, I meant to say 1031 exchanged, not 1049.

Yes, that’s right, it applies for investment property, not residential, I totally forgot about that.

I do have LLC and was thinking to transfer the property from not LLC and do that 1031 exchange. But then when I am selling it I don't think I can sell it myself any longer, like for sell by owner to avoid Realtor's fee on one end, obviously I would have to pay buyer's agent %, but it's going to be only one fee vs selling agent as well

@Joe Cassandra

I meant to say it’s private money with low interest

@Joe Cassandra

Hi Joe,

There is no hard money no bank, it’s private money not very low interest

In this case I do have to live in/keep the property for at least 2 years in order not to pay capital gain taxes, otherwise if I sell it earlier then do 1049 exchange on a profit and buy same type of RE, that's my other option then?