Can I do a live in flip?

[Taylor Harris]

Some details on my situation.

Have at least $20,000+ saved for a down payment.

Sick of paying rent and want to get into real estate.

Have family nearby so not worried about if some things in house won't be able to be used.

Do not want to live in one place for 2 years, which from my research is the benefit of a live in flip.

Have qualified for FHA and even a regular loan, but not sure what might be best so that we also have a renovation budget. Some local investors have suggested find a great deal a hard money lender would be willing to pay the house and my savings pays for the renovation.

Would love any suggestions or tips on how to approach this and maybe the types of properties that I should be targeting in Salt Lake City, Utah.

Thanks ahead.

[Bryce Till]

The hard money loan will kill you on a two year time frame. Two years is a long time. Get in the house, keep saving and take on one renovation project at a time.