Live-In-Flip - Rural Iowa
Investment Info:
Single-family residence fix & flip investment.
My wife and I bought this single-family home with intentions to do a live-in-flip. Our plan is to sell if after years to avoid having to pay for the capital gains taxes.
What made you interested in investing in this type of deal?
I was more interested in living in a duplex to 4-unit, but the wife didn't want to have that close of neighbors. So, we were able to compromise on doing a live-in-flip.
How did you find this deal and how did you negotiate it?
We found this deal on the MLS and used a local realtor. Interestingly enough, the home was being sold in as-is condition. We still were able to negotiate with the sellers. So, even though a home is being marketed as is, doesn't mean you still can't negotiate.
How did you finance this deal?
Conventional 30 year loan with a 5% down payment.
How did you add value to the deal?
We renovated the home.
What was the outcome?
We have yet to sell the home, but we are expecting a good return on investment.