All Forum Posts by: Anders Rodland

Thank you guys so much for all the replies and feedback, this is exactly the type of feedback that I needed to hear. Looks like my agent is one of the good guys, and his advice is very much in line with what you guys say. I will think twice and look at my options. I'm not committed to the new construction, simply on a waitlist without any deposits that I can jump out of at any time.

I live in Austin Texas, where houses are flying off the builders shelf, and people go on a waitlist to build houses. The builders seem to raise their prices every 1-2 week. The market is HOT.

I'm currently on a waitlist (position 20) to build a 4bed 3bath, priced at $400K, in an area that is being heavily developed. My goal is to flip this house as soon it's completed, which could be 1-2 years from now depending upon when I actually get to build. I expect the house to be valued somewhere between $450-500K once completed due to the appreciation.

My agent tells me it's not a good idea to sell it as soon as it's mine, and that I should live in it for 2 years first to get the tax break. It's nice to save on the taxes, but I don't really want to move my family to a new house every time I do this, I just have a strategy to provide some additional income which I then use to buy rentals.

So the questions... Is my agent right, should I not sell it immediately? Or is there some big flaws with this strategy of flipping new constructions that I don't see?

Thank you @Marcia Maynard. I made a copy of that letter and will use it as well.

Glad to hear he signed the paper, you seemed to handle that well. I hope he actually moves out and don't cause any scene or damage to your property.

Great story, and congratulations with a successful flip. 

I'm unfamiliar how this works in the US. But obviosly you payed the PM to do a job whichthey did not do, and as a result you now have extra costs. Can you not hold the PM responsible / liable to some of those costs?

Acknowledged. Profile picture is added

oh, I'm this year before we relocate to read up and learn as much as possible about real estate investing and landlord/tenant laws. Our plan is to relocate to Austin TX to be closer to my wife's family.

Hello there.

My name is Anders and I'm new to this forum. I'm a Norwegian who currently live in Sweden together with my wife. We plan to relocate to the US in about a year (my wife is a US citizen by birth), and we have started the process for me to get a green card.

My world expanded when I read rich dad poor dad and I'm looking to get into real estate. We own the house that we live in now and are renovating it as we live here to maximize profit when we sell.

Once we get to the US our plan is to start buying houses and rent them out.