Forcing Appreciation in a Condo

[Derek Luttrell]

Hi Everyone, 

I'm under contract for my first buy and hold rental right now, and I know I want my next play to be a live-in flip (currently house-hacking my primary residence with roommates, and once I'm there for 2 years I will be 27 yrs old, and will no longer want roommates.) 

The numbers don't work at the prices of MFRs in Chicago right now, which pretty much leaves me with condos as the primary inventory I can choose from. My question is, has anyone out there had a successful live-in flip with their condo, whether it be through renting or selling after the renovations? My plan is to always live wherever I am for at least 2 years in order to take advantage of tax-free gains in case it is an opportune time to sell in the first 5 years. I'm just wondering if you can see the same type of forced appreciation in a condo as you can in other property types.