Can you afford your “dream house” right now? The one with the pool and the ocean views, space for the kids to run around, and a huge pantry. The secret nobody will tell you: you CAN afford your dream house right now—or at least you can afford the investment that will get you there. Just ask James Dainard, who took a $175,000 hoarder condo and turned it into what would eventually become his $8,500,000 dream house. You can do the same using his level-up strategy.
James only started with $9,000, which turned into multiple millions over the next fifteen years. He would buy a house, fix it, and trade it up for a better one, repeating this strategy five times until he reached the goal: a 9,000-square-foot luxury home in one of the priciest markets in America, Scottsdale, Arizona.
He made millions of dollars completely tax-free because of this live-in flip strategy that ANYONE can use to massively multiply their wealth and take them to their dream home. And maybe you don’t want an $8,500,000 mansion—that’s fine! It only took James three house flips to get into “dream home territory,” and you can do the same!
In This Episode We Cover:
How to use the live-in flip strategy to make tax-free millions and buy your dream home
Why buying the worst house in the best neighborhood can make you rich
Why your primary residence IS an investment…if you use it the right way
The real estate tax cheat code that lets homeowners make $500K in tax-free profits
How to renovate a home even if you have zero flipping or construction experience
Why it’s crucial to find a spouse who’s DTF (down to flip)
And So Much More!
Links from the Show
Join BiggerPockets for FREE
Let Us Know What You Thought of the Show!
Ask Your Question on the BiggerPockets Forums
BiggerPockets YouTube
Apply to Be a Podcast Guest
James’ Live-in Flip Story!
Watch the Trailer for Million Dollar Zombie Flips!
Try REsimpli, The Only All-In-One Real Estate Investor CRM Software That Helps You Manage Data, Marketing, Sales, and Operations
Find Investor-friendly Tax and Financial Experts
Grab James’ New Book, “The House Flipping Framework”
Sign Up for the BiggerPocket Real Estate Newsletter
Find Investor-Friendly Lenders
Is a Live In Flip Right for You? Here’s How to Tell
Connect with James
Connect with Dave
(00:00) Intro
(03:57) Best Investment? YOUR House!
(07:41) House 1 ($175K Condo)
(12:05) Pay NO Taxes on Profit!
(14:06) House 2 ($235K)
(19:09) House 3 ($890K)
(22:04) House 4 ($1.7M)
(26:22) Making $1.2M on ONE House!?
(28:10) House 5 ($8.5M Dream House!)
(31:44) Tips for 1st Live-in Flip
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-1089
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