BRRRR - Buy, Rehab, Rent, Refinance, Repeat
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Updated about 4 years ago on . Most recent reply
Is this strategy possible to achieve my goals?
I bought an investment property and it needs some work. Is it hard of buying an owner occupant house and getting a 203k loan to rehab the investment property since that will be income.
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Whitney Hutten
#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
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#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
- Rental Property Investor
- Boulder, CO
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Whitney Hutten
#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
Pro Member
#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
- Rental Property Investor
- Boulder, CO
@Kurtis Johnson If you buy using a 203K loan, have plans to live in the property at least 1 year for loan purposes (2 years for tax purposes). Living in it 2 out of 5 years will most likely allow you to take up to $500k in gains ($250k as an individual) tax free when you sell.