House flipping involves buying a property at a discount, improving it for the purpose of appreciating its value, and then selling it at a profit. A live-in flip is a property the investor lives in while renovating it.
Living in your flip benefits you in two ways: First, you can make money when you sell the house later. Second, you avoid having to pay for a separate home to live in.
“Flipping a house — acquiring, repairs, and selling — can be completed in three months or less. On average a rehab project usually is about six to eight months depending on the nature of the project and result in a substantial payday. Flips can earn tens of thousands of dollars in a short time frame. It's the best strategy for those that need capital in the near future.
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