All Forum Posts by: Matt Kitchen

Something else to add is that if you live in the property for 2 years you can sell without paying any capital gains tax. So if you do a live in then flip house and stay there 2 years before selling (unless that tax law has changed in the past year or so, consult with a CPA for specifics) it would be a good strategy on top of what I originally posted. I believe it's 2 out of the last 5 years, so with that in mind you could live in it for 2 years while you fix it up, rent it out for 3 years and sell it and still not pay the tax on it. Or at that time you may decide to keep it as a cash flowing rental property. Just more tools in the tool belt, as they say!

The Dayton reia group, GDREIA, is mostly educational with some time for Networking.  Let me know when you are coming and I will meet you there.

House hacking and doing an FHA loan on a 2-4 unit that with some value-add potential seems to incorporate many of the best wealth growing RE strategies...house hacking (someone else pay your mortgage), FHA loan (as little as 3.5% down payment), 2-4 unit (allows the house hack option and provides greater potential for cash flow compared to one unit SFR), and value-add (to force equity/appreciation). This option allows you to take your time while you fix up the units and save money while someone else pays your mortgage, all while forcing appreciation. After a year you can refinance out of the FHA loan into a conventional loan (to ditch the PMI) and repeat. It's basically a summary of the BRRRR strategy as well.