New member from Westchester County, NY

[Kim Randolph]

Hi real estate world!  My name is Kim and I am very new to this forum and this profession.  I bought my first home in 2014 with little knowledge but was still able to purchase my home with equity in it!  I want to repeat the process, but for profit, by flipping property.  I am a single mom to two boys, one, 17, and the other 6.  I have dreams of allowing them to go to college debt free and of paying off my sizeable student loan debt, as well.  I am excited to learn all of the ins and outs of the process from this forum.

[Mindy Jensen]

Welcome to BiggerPockets, @Kim Randolph. Flipping can be very profitable. Have you considered a live-in flip? 

My strategy is the buy a home and live there as my primary residence for two years while completing the rehab. I sell every two years or so, and since it was my primary residence, I don't pay capital gains taxes on the profits. There is a bit more to it than that, and living in a rehab with children isn't for everyone.