On Tuesday (28 March), Carol and I drove to San Antonio to do the final walk-through and sign the closing papers on our new acquisition in San Antonio. Our initial exist strategy for this house is to hold it as a rental for a year or two.
Once we see how the neighborhood is changing, we may decide to sell the house, fully renovate it for a higher-end flip, or continue to hold it. As I mentioned the other day, there are tax advantages that can make it much more profitable to hold a property for a year or two before doing a full renovation and resale.
Now you may wonder why we bought a house such a long way away from our usual area. There are a couple of reasons.