How to Flip Houses When You Live In The House

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Flipping houses requires an investor to find a great deal, fix it up, and then have a resale value higher than the original price plus repair costs.

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Pros of Flipping Houses Via the Live-in Flip

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No Income Tax Due When You Sell

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For example, let’s say you bought a house for $150,000, put in $50,000 in repairs, and then sold for $300,000.

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Multiple Exit Strategies

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You May Have to Move Often Moving often also comes with additional costs.

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Even if your plan going into a live-in flip is to sell after two years, you should have a backup plan in case the housing market tanks.

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For example, people who purchased live-in flips in 2006 or 2007 may have ended up getting stuck with their home for much longer than expected.

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Swipe Up To Learn More

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