New member in S.E. Michigan

[Joe Trometer]

Hi All,

Joe here, new to BiggerPockets.  I'm a do-it-yourself home rehabber on properties I've owned that started as a hobby because I couldn't afford to hire a contractor.

I don't think of myself as R/E Investor (more of a tradesman working like a hobby), wanting to learn more about the investor strategies to build up my retirement fund.

Cheers :-)

[Dave Foster]

@Joe Trometer

Congratulations on finding a work you love and for being able to love your work.  Don't lose that.

I like your business model, in particular the conversion into your primary residence on occasion to take advantage of the tax free gain there.

I would also encourage you to look at adding 1031 exchanges to your tool kit in between the primary residence moves.  The 1031 exchange allows you to sell and buy investment property and defer any tax on the gain into the next property. There is no limit on how many you can do.  And they can work incredibly well combined with the primary residence exclusion.  Use the 1031 exchange to sell a couple of duplexes and buy a very nice single family rental that you wouldn't mind living in.  After using it for investment for a while you simply move in.  It now becomes your primary residence and at the appropriate time once again the gain is tax free with some stipulations.