Ashley Robinson | @ashley-robinson
in Honeoye Falls, New York
Posted 8 Months Ago
I am new to REI and I feel excited, vulnerable and scared all at once!! The first deal i am going to make will consist of moving my family into a fixer upper and working on the property while we live there. I am not sure, but I am thinking this could possibly take a few years (maybe even a decade) until we have created the perfect house from our own sweat and money and flipping it. Not sure if this is a good idea or if doing it the popular way (buying cheap, hiring contractors, flipping) is honestly the best way to go for my situation.
Any insight and advice is welcome!!
Ashley RobinsonRobert Lawry II | @adminrei
Experienced Investor in Jacksonville, Florida
Posted 8 Months Ago
Great to have you here.
There are some great tax advantages to living in the property for 2 years so you wont have to pay capital gains tax. This can allow you to roll all of your money into another property easily.
I would suggest meeting some local flippers and visiting their rehabs so you can learn.
Layout your rehab schedule and make some goals. Even “a few years” is kinda long (in my opinion).
Robert Lawry II, CEO & Editor
Rei Media, LLC
Lic # CBC1254563
(904)993-2692Corina | @corina-eufinger
in Oconomowoc, Wisconsin
Posted 7 Months Ago
“Living in a lonely world…” Journey? Anyone? It's the only thing I could think of after I read the title.
Welcome Ashley! I just joined the site 5 minutes ago but I've been involved in real estate for….well way too long without giving away my age. What is right depends on your situation. There is no magic formula. Get involved in real estate in the way that makes sense for you. Your plans, your money, your life demands. Fear is just your mind's way to letting you know you are making a big choice. Nothing else. Don't let the fear kill you.
Corina Eufinger (CEO)
This topic contains 2 replies, has 3 voices, and was last updated by Corina 7 months ago.