Don't Do A Live In Flip.

[Dan Beaulieu]

Here is a Brilliant Wealth Building Strategy that nobody talks about. 

Instead of putting 20% Down buying your primary residence, or buying something retail with a 5% down conventional, or 3.5% down FHA loan, consider this:

Get a good deal on a fixer upper, and finance it with with a reliable hard money /private lender. Get up to 100% of the purchase price and renovation costs covered. Many good HML will do this.

Do the renovations on the property quickly while you still live somewhere else, just as if it were a normal fix/flip. 

In 6 months, refinance into a conventional mortgage at 75% LTV based on your NEW appraised value. Kind of like doing a BRRRR only it's YOU moving in instead of a tenant.

Move into your beautiful newly renovated house. You'll have 25% equity, and if you purchased correctly, you'll be in it for NONE OF YOUR OWN MONEY.

We have a lot of borrowers doing this strategy all the time. What do you think?