Starting with flips to gain contractor experience is a smart move before diving into development.

Thus, you kick any capital gains down the road. 5) The best part of the law says that once it has been an investment for a certain number of years, you can actually move into it, and once you have owned it for a certain number of years, the capital gains you kicked down the road can be rolled into the capital gains that is exempt as your personal residence.

It’s great to see your enthusiasm, and this community is full of valuable insights that can help you on your journey.

As for taxes, they only delay capital gains, not reduce them entirely.

Thanks for sharing this, it’s a valuable lesson for all of us!

And you would now owe about 330k by then so you would have gained 370k in equity in 10 years.  

If so invest locally, gain experience and knowledge, scale up and go from there. 

There are plenty of valuable contacts, relationships to create & grow, helpful bits of information, etc.3 things I'd recommend for a new BP member looking to make the most of the platform:1.

You don't live "bad" financial discipline, accrue wealth and THAN gain healthy financial habits from the $, that's nonsensical.

Land doesn’t depreciate, and while buildings require maintenance, they usually gain value as markets grow, demand increases, and inflation takes its toll.Real estate investors benefit from a significant tax write-off based on the concept that properties lose value over time, even as their market value skyrockets.