Hey guys,
The post I made before triggered some other brainstorms, so I figured I'd try to get some feedback here.
The two year mark for living in my home will be coming up in Feb. I like the mindset of selling your home every two years so that you can avoid capital gains (i think james smith said this).
Anyway, it occurred to me that I could potentially take advantage of this downward market. I figured, hey, this is a great opportunity to be able to fish out some motivated sellers who's home(s) have been on the market for quite some time and would desperately like to sell.
My thoughts before I fell asleep last night were "Hey, I could probably bargain a $400k/$375k home for around $350k (FMV of my current home)". This is the FMV of my home 2 years ago.
When I woke up this morning, I felt stupid, I neglected to realize that my home has decreased in value just as others have (yes I need more sleep).
However, I do believe I could work something out along these lines. Since I am not a motivated seller, perhaps I could put my home on the market and just sit on it until I can get the price I want. I could then negotiate current prospects of nicer homes in attempt to get for the same price. The obvious idea here is to obtain a better home for the same price.
Now having read the above novel, I'd like to hear some thoughts you guys have that could help accomplish what I'm trying to do. I'm open to all types of creative deal structuring etc.
:cheers:
Ryan
The post I made before triggered some other brainstorms, so I figured I'd try to get some feedback here.
The two year mark for living in my home will be coming up in Feb. I like the mindset of selling your home every two years so that you can avoid capital gains (i think james smith said this).
Anyway, it occurred to me that I could potentially take advantage of this downward market. I figured, hey, this is a great opportunity to be able to fish out some motivated sellers who's home(s) have been on the market for quite some time and would desperately like to sell.
My thoughts before I fell asleep last night were "Hey, I could probably bargain a $400k/$375k home for around $350k (FMV of my current home)". This is the FMV of my home 2 years ago.
When I woke up this morning, I felt stupid, I neglected to realize that my home has decreased in value just as others have (yes I need more sleep).
However, I do believe I could work something out along these lines. Since I am not a motivated seller, perhaps I could put my home on the market and just sit on it until I can get the price I want. I could then negotiate current prospects of nicer homes in attempt to get for the same price. The obvious idea here is to obtain a better home for the same price.
Now having read the above novel, I'd like to hear some thoughts you guys have that could help accomplish what I'm trying to do. I'm open to all types of creative deal structuring etc.
:cheers:
Ryan
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