Investment Info:

Single-family residence fix & flip investment.

Purchase price: $20,000

Cash invested: $45,000

Sale price: $99,000

Contributors:
Peter Vekselman

Partner Driven...

Taxes: Be aware of potential transfer or capital gains taxes, depending on your state.4.

My main goals with these initial projects are:1.Gaining valuable insights into the local market.2.Getting hands-on experience with out-of-state investing, particularly when it comes to remodels and managing from afar.3.Testing the entire BRRRR process to see if it’s the right strategy for me long-term.If all goes well, I’d love to scale up and explore multi-family projects.

Why ask: Learning how your mentor handled failures or setbacks will help you gain perspective on the full spectrum of risks and challenges in the field.

At this time the primary goal is passive income and then scale within 5 years as I gain more experience and network. 

We kept and rented our primary residence for three years before selling it (and we didn't have to pay capital gains taxes).Thanks!

Your problem will be them incurring capital gains taxes simply so you can get a commission.

Since Texas is a tax deed state, you gain ownership at auction, but the previous owner has 6 months to 2 years to redeem it by paying your bid plus 25% interest (in year one).

I’m here to connect with like-minded individuals, gain insights from others, and contribute value wherever I can in the real estate field.

I’m here to gain insight into the investment side of things, and connect with people already familiar.