Summary: Build your own home and sell it for a profit several times over the years and you could have a mortgage free house.
Hi Carl, I was reading your book and I am just a little bit confused on your statement - You may never have to pay taxes on that gross profit if you follow the IRS guidelines for reinvesting your primary residence capital gains.
Where would I find the IRS guidelines regarding this?
Are you talking about the cost basis that we would have in the house, so when or if we sell it that we would not have to pay taxes on the gain? Hopefully there will be a gain again someday - we just lost 15% selling our last house when we moved.
Thanks for your help and thanks for building your website and helping those
of us that are trying to build our own house. Regards, Barb
Hi Barb,Please read the information I have on Mortgage Free House and see if that doesn't answer your questions.
If not, let me know.
Thanks for writing,