Been in the house for a year. Looking for ideas on what to do as an investor.

[Christopher Eduardo]

We built a custom home to live in as our primary residence. It is up in value but we are trying our best to stay here for another year in order to use the 2 out of 5 exemption. However, we built this house as an investment and we are needing some ideas to cash flow out of it until we can cash out. 

What are some of your ideas in the current market conditions? What is still working and profitable? Should we rent it out long term? Short-term? Just sell it and pay the taxes? Anything helps. Thanks for any suggestions.

[Shawn McCormick]

@Christopher Eduardo Just curious what the hurry is? If you built for an investment, you must have had a plan on what you were going to do with it when you started. What part of town are you in, if you are in Orange County, you can't STR it unless you are still living in it and rent out a portion. I don't think paying the taxes would be of any help as that will put you in the hole on the next investment from the start.

Market conditions here are about to become more favorable for both buyers and sellers. Interest rates are expected to lower in 2024 which should bring out all people on the sidelines waiting for that. In turn, that will drive up demand and home prices will rise again as supply slips back a bit. Do you need the money from this house to go buy another primary? are you just looking to house hack on the next property too? If you have the ability to rent out a room(s) a portion of your driveway or if you have a bit of land and no HOA you could rent out the land for boat/RV storage, if you have a pool, there is a site that you can rent that out for others parties.

Happy to brainstorm if you like, let me know where the home is and I can maybe present some other options. 

Best of luck