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Updated about 7 years ago, 10/27/2017
Any different math for live-in flips?
Hello everyone,
I am new to the real estate world, and I was wondering if those who have done live-in flips do their numbers any differently for those versus a normal flip. For me, I feel that the numbers would differ at least slightly because if I bought my current home my guaranteed monthly payment would drop by about 50% for P&I. Then the money that would go toward forced appreciation gets factored in, and down the line a few years when I would like to move I should at least break even. That would mean that I essentially lived for free for 2 years, right? I haven't gone through all the numbers, and I will. In terms of mindset, am I on the right track for this or should I consider the numbers just like any other flip?
If the answer to the last question above depends on my goals which it often does for everyone, my current goal is to get through med school living for as close to free as possible. I am happy to give some estimated numbers if they would be helpful; just let me know.
Thank you for your input!