All Forum Posts by: Jason Hart

We bought a fixer upper with the intention of it being a long term home.  However, things change and we are going to move out of the country to serve as missionaries. We will clear at least $100,000 in profit but potentially/unfortunately will sell before the 2 year mark.  Is there any way to get around paying the Capital Gains Tax?  We need every dollar we can get! Thanks.

@Larry Ashlock I was going to rehab it mostly but we ended up hiring a decent bit of it out due to needing more space for a foster care placement. My contractor did really good work-very happy with him!

Larry Ashlock that is some solid advice! I've heard great things about Ft Knox for the HELOC. Our house was appraised prior to our closing in April. We have a close friend who is a realtor who is willing to assist. I put an offer in on a VA foreclosure but they rejected so I'm going to wait 30 days and if it's still available going to put the same bid In. He suggested West Point bank for this deal so I already have a relationship with them. I guess I'm curious if I should wait 30 days before doing anything or say forget it and move on.

Thanks @Kyle Miller! We can get a 100% HELOC through a local credit union and then use that for down payments. My wife hates moving and this house is our forever home most likely.

@Scott Nielsen I'm thinking HELOC is my best option through a local credit union where I can get 100%. Use my HELOC for downpayments and then finance the rest through a mortgage.

Hey guys! Newbie here, we purchased a foreclosure for our primary residence last year for $110,000 and after $30,000 in renovations it appraised for $210,000. What would be your advice for first steps in using this equity? I'm in Kentucky about 40 minutes south of Louisville and interested in flips and rentals.

continue to flip along with some rentals. That 70k in equity sets me up well I just want to make sure I'm taking the correct steps!

Hey guys! Newbie who has an offer in on a potential foreclosure flip where I hope to make 10-15k in profit. We purchased a foreclosure for our primary residence last year for 110,000 and have about 70,000 in equity in it. What would be your next steps after this flip hopefully goes through?

Hey guys! Newbie who has an offer in on a potential foreclosure flip where I hope to make 10-15k in profit. We purchased a foreclosure for our primary residence last year for 110,000 and have about 70,000 in equity in it. What would be your next steps after this flip hopefully goes through?