All Forum Posts by: Shaquetta Chittams

@Dylan Farish I've heard of BRRR but I'm not completely familiar with how it works (googling now!). Also, I didn't know "to avoid Capital Gains Tax you must live in a property for 2 out of 5 years before selling." That may change things. I was under the impression if you use the profits to invest into another property you wouldn't have to worry about the capital gains tax, but I could be mistaken. I'm really new to all this. But you've definitely given me something to think about. Good Luck! I'd love to hear about your progress.

Yes, I am referring to a local state/county/city incentive/assistance program. We are also looking into the option of a FHA 203k. It's our understanding you only have to live in the property for 1 year which we can definitely do. But with the other option we can get up to 20k in incentives but I think the programs require a longer commitment and we are unsure of where we will be that far out.

We want to build a portfolio and we don't have a problem with living in the house but we aren't sure how long we will be there. We may move out of the state. BUT we don't want to lose our opportunity to take advantage of the 1st time home buyers programs. I think once you purchase a property you're no longer eligible.

My husband and I would both be considered 1st homebuyers however we both would like to get into real estate investing. We're unsure on whether we should move forward with the programs or should we just focus on purchasing our 1st investment property?