you know in so the neighborhood that the
house is listed and we knew we wanted to
buy in that neighborhood so we had been
to all of the houses that were for sale
in that neighborhood and you can see
then the nice house around the corner
was it was done in a style that I don't
like it was more like a country style
could see the potential because I could
see what it looked like with nice
cabinets and with nice countertops and
nice paint and you know decorations but
when we saw it it was vacant so you can
see the size of the rooms
it's a split-level which is not such a
desirable floorplan in most places but
it didn't seem to matter in the
neighborhood that we were in people
wanted to be in that neighborhood more
so than they wanted to buy that
particular style of house but all the
houses like this that have been selling
are selling fairly quickly it's not like
they're being punished for being a
split-level there people just don't seem
to care but because it's a split-level
it has really high ceilings and that
creates a big sense of openness so how
did I see the potential just looking at
all the other houses that it sold there
were that same floor plan and were nicer
gotcha and what's the timeline for for
this particular house do you have it
like mapped out and you know the things
that you guys are gonna work on so Karl
is working on refinishing the I finish
in the basement he's going to build a
bathroom down there and then just kind
of finish out the walls and it'll be
another living space but with a door
that you can close we'll put the TV down
there and the kids can watch movies down
there or have their friends over then
we're gonna move to the outside and put
a nice big deck on the backyard to go
with the pool because we're gonna be
outside all the time because it's got
this amazing in-ground pool well it's a
fairly broken in-ground pool it will be
amazing there's a big hole back there
yeah you can put water in it
but he's done a bathroom he's painted
the front room the kitchen's gonna be
next year because that's gonna be a big
undertaking we want to or we're doing
Windows I just forgot the windows
arrived next
week it's got original windows from 1979
so they're leaky they're ugly they have
these weird latches on them that don't
quite close so we're just gonna replace
all of those in the next few weeks do
you want to learn how to employ how to
install windows I may want to take a
look yeah I can show you how to install
sliding glass doors big picture windows
little bathroom windows whatever you
want your yard you know how to do it no
I say I I mean we and mostly he yes he's
been working hard he has you know he
doesn't work anymore he's retired and
this is what he likes to do he wants to
learn how to install windows it's really
not that hard but it's really hard if
you don't know what you're doing it's
really hard to install a sliding glass
window by yourself because they weigh
more than you can lift in there awkward
and you know so you need people to help
with that part but then once you get it
into place then you screw a couple of
screws in there then it's just you know
screwed there in place it's gonna it's
not gonna fall over then you can go
around and do the rest and you know so
he's excited to learn a new skill is it
like challenging with the kids like yeah
doing this okay yes it's so hard with
kids we have decided though that we are
only gonna work on it when the kids are
in school they're in school is seven and
a half hours a day five days a week we
don't need to be working on this house
from sunup to sundown every single day
it doesn't have to get finished that's
another thing about living flips that I
forgot to say is that in order I mean
the whole reason I do this is because
it's tax-free growth up to $500,000
because I married up to $250,000 if
you're single that's money I'm not
paying any taxes on when I sell my house
I just take that money and put it right
in my pocket and Uncle Sam sees none of
it it is my goal to one day hit the five
hundred thousand dollar ceiling and then
go over it a little bit so I do have to
pay taxes on it but oh what a hard
problem you made five hundred thousand
tax-free dollars in two years what
what a tough life you have now you have
to pay taxes on you know $25,000 life is
so rough
so it's it's not about not paying taxes
it's about not having to pay taxes
through the laws that the government has
put into place so but you have to live
there for two years you can't do this
you know move into your property fix it
all up in three months and then sell it
in pay no taxes that you actually pay
income tax on whatever your current rate
is so that's maybe not the best well you
know it depends on how much money you're
making on the property but I need a
place to live anyway why not turn my
house into an investment by making it
look nicer you know buying something
ugly making it look nicer and then
selling it down the road so we don't
really have a timeline on it because we
have kind of done this a lot I think
this is our ninth one and we're like
maybe we should just take it easy and
you know live here until the little ones
in fourth grade so she has eight more
years of school until she's out of high
school and then maybe we'll think about
moving or maybe we'll stay and maybe
turn it into an air B&B yeah
it's a nice neighborhood I mean I would
see why you would want to stay at cool
people in the neighborhood too so yeah
there's a lot of cool people in the
neighborhood and it's quiet there was
one house across the street from us that
had the parents were living there their
kid moved back in and did meth in the
house so that's the one house out of
like 381 that had a drug issue it's just
a nice quiet neighborhood so I really I
really like that it's got an HOA but
it's like the best HOA ever it's fifty
dollars a year and it's voluntary so I
don't even have to pay that fifty
dollars a year but I would totally want
to but it an HOA keeps people from doing
dumb things like parking 14 cars on
their lawn and then never moving them or
parking 27 cars and the along the
streets and never moving them but a
choice can be really restrictive and
ours isn't which is pretty nice
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