Investment Info:Single-family residence fix & flip investment.

Investment Info:Single-family residence wholesale investment in Rome.

For context, I have $80k in liquidity and $1m in equity in my primary residence so working on opening a HELOC and plan to add multiple properties each year through the BRRRRR method.

My wife and I are officially under contract with a new primary residence, with the goal of moving and then turning our current home into a rental.

I currently own my primary residence and have about 60k in equity.

I reside in NC and the property is in NJ.

300k purchase + 10-15k closing + 80k remodel + 5k for refinance costs. 80k remodel number I got from my father who is a general contractor in the area. 500k ARV x .80% refi (because it would be my primary residence) = 400k minus 15k closing, 80k remodel, 5k refi cost = 300k my original purchase price.

PadSplit has developed a platform that aligns incentives among residents, property owners, and communities to make affordable housing possible for the private market.

That means either you won't cash flow or your Return on Equity (ROE) will be terrible.Since this is your primary residence you'll be exempted from paying capital gains taxes when you sell.If you sell to your parents, it will be considered a non-arms length transaction and will get closer scrutiny.

Investment Info:Single-family residence fix & flip investment.