Anybody have experience moving home regularly in order to get ahead financially?

How to avoid signing your life over to a mortgage
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garyjames8
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Joined: Tue Nov 29, 2016 8:14 am

Anybody have experience moving home regularly in order to get ahead financially?

Post by garyjames8 » Thu Dec 01, 2016 9:39 am

Hi,

Does anybody here leverage their knowledge and experiences in real estate to move home regularly for financial gain?

This idea doesn't seem to get mentioned much here.

The reason I ask is that I am thinking of doing this myself and looking for advice and guidance from those that do this successfully.

Kind Regards,

Gary

PS. For clarity, I am a dual citizen (UK and Australia)...and am looking to do the above in the U.K.

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JohnnyH
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Location: Rockies

Re: Anybody have experience moving home regularly in order to get ahead financially?

Post by JohnnyH » Fri Dec 23, 2016 11:30 am

I don't know about UK or AU, but in US this is a great strategy thanks to the Primary Residence Capital Gains Tax Exclusion.

Every 2-5 years you can sell for up to $250k [$500k married] (-minus purchase price) without paying taxes. I try to buy at auction the best value house ≥3 bedroom + 2≥ bath and sell every 2-5 years. Rinse, repeat.

halfmoon
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Joined: Mon Nov 07, 2016 10:19 pm

Re: Anybody have experience moving home regularly in order to get ahead financially?

Post by halfmoon » Fri Dec 23, 2016 2:29 pm

@JohnnyH,

I'm glad you answered this, because now I understand the question (also: great answer). I thought the question was about moving back home regularly (as in, with your parents) to get ahead financially. :lol: This interpretation makes much more sense, though I guess some also employ the other strategy.

Did
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Joined: Mon Apr 01, 2013 7:50 am

Re: Anybody have experience moving home regularly in order to get ahead financially?

Post by Did » Sat Dec 24, 2016 1:13 am

Not regularly but you shouldn't be shy. We moved to rural Ireland from Australia in part because property is so cheap here. Swapped modest equity for a paid off pad.

J_
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Location: Netherlands/Austria

Re: Anybody have experience moving home regularly in order to get ahead financially?

Post by J_ » Sat Dec 24, 2016 2:52 pm

Yes I have expierence in moving house to earn and to reach two other goals: living in beautiful surroundings, and improve the house so that its quality to live in and its value enhances. That doing part gives me and DW a lot of satisfaction. We do the works partly ourselves, the rest we outsource.

Last 17 years we lived in and owned 8 houses in three countries in Europe. Never more than three at one moment. Now we live in two. Last year we earned about two years costs of living with buying, refurbishing, restyling and selling one appartment, within one year. I think/feel/make it a kind of art to create and live in elegant houses or appartments, even when they are sometimes rather small.

All the houses we choose, are first class located. We do not use mortgage, we buy cash. Last 20 years we are fi, and choose to have no salaried jobs. So we live free how to spend our time, in average we work on those projects 2 or 3 months per year. Some years we did not want a project, doing other things.

The amount of money we have earned with the six sold houses in that period is at least equal to the cost of living*in that period plus the investments in our house and apartment of this moment.

*all our expenditures: inclusive food, clothing, taxes etc, one of the reasons we have often zero (S)WR rates.

EdithKeeler
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Joined: Sun Sep 01, 2013 7:55 pm

Re: Anybody have experience moving home regularly in order to get ahead financially?

Post by EdithKeeler » Mon Dec 26, 2016 9:35 pm

Does anybody here leverage their knowledge and experiences in real estate to move home regularly for financial gain?

This idea doesn't seem to get mentioned much here.

The reason I ask is that I am thinking of doing this myself and looking for advice and guidance from those that do this successfully.
I have moved several times to better myself financially. Well, that was the plan, anyway.... Most of the time it worked out OK.

I started to write a long, scrolly post about my experiences but realized you probably don't care! :D

Generally it's worked well, but this is what I learned:
--research well. One move I made on its face looked like a great idea, but in retrospect, i didn't take into account things like future growth, other opportunities in the city, etc. So it was great in terms of getting a high salary in a low cost of living place, but I paid a price by not having other places to go to (without moving away) in the city, and few opportunities for growth and development.
--I wish I'd kept my houses when I moved away. With my last move, I did, and it's been great financially. While I've come out ahead on all the houses I've sold when I moved, in retrospect I realize that I would have CLEANED UP if I'd retained ownership of them all and rented them out (even with a management company).
--sometimes more money is not worth it. I moved for a job that I loved, but that had a horrible boss. I spent time just about every day the last 2 years of that job wishing I'd never moved for that job. I don't beat myself up for it, but when I think about it, warning signs were there before I took that job, and sometimes I play "woulda coulda shoulda" (to no avail).
--consider that sometimes taking a lateral job move (or maybe even a demotion), combined with a low cost of living, might be better than a higher-level job in a high-cost of living place. The other side of that might be fewer opportunities for development, but at the same time, getting paid a sweet sum of money for a less stressful job in a low COL area is not such a bad deal.

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