807. Why We Moved Out of Our Dream Home
23 Nov 2021 · 14 min
Lori Harder and her husband Chris sold their dream home for a $2.1 million profit in about a year. They delayed closing to manage capital gains taxes and plan to reinvest the proceeds into more properties and rentals.
Questions this episode answers
Over $2.1 million in about one year.
They delayed the closing to obtain different capital gains tax treatment.
He compared it to earning $55,000 per year for 40 years (the average US salary × 40 years).
Chapters
I will tell you that the more risk that you become tolerant of, the more you can win.
Welcome to the Earn your happy podcast. I'm Lori Harder, founder of Light Pink, best selling author, three time fitness world champion, and I'm a crazy, multi passionate entrepreneur. My journey has taken me everywhere from being a broke waitress, barista, retails associate and personal trainer with massive anxiety and no belief in myself, to later becoming a multimillionaire in love with my life. In 2007, my husband and I lost everything. We found ourselves hundreds of thousands of dollars in debt. At rock bottom. We had no ideas and I had no education to fall back on. This is when I found personal development and learned everything I could about business. Not by choice, but because I realized no one was coming to save me. The conversations on this podcast are going, you know that you're not alone and.
That we all feel like we don't.
Know what we're doing. We're going to give you the tools to help you face your fears, take action, start your business, and grow those massive dreams that are keeping you up at night. It's time to create a life that you can't hide from and put so much on the line that your higher self is forced to come out. You're going to stop waiting for someone to approve of you and you're going to anoint yourself. Because I'm obsessed about building businesses that give women a platform, I want to feature you. So if you text the word podcast to 310-496-8363, you can get your questions answered on our Q and A segment along with a shout out. And if you rate, review and subscribe to this podcast, we're choosing someone every month to get coached and featured on our show. And it just might be you. So let's get started. And we're back with another episode of he said, she Said.
And we're literally like back in the car, back on the road, back, like, this is it. We just left our house, you guys. As you know, we sold it and we're on this adventure. We don't know quite where we're going, but we just left our house about an hour ago for the last time ever, literally.
We said goodbye to our home last night. Our family came over. We talked about our favorite memories that happened in this home that we were so excited about and all of the great things that have happened in this home.
All of the memories.
My first light pink and bester dinner, my 40th birthday, Lindsey and Elliot's 10th anniversary. This was a healing Home for us while we transitioned after the passing of my dad. After the passing of your father. And you guys are along the ride with us. So, you know you're gonna hear us recording right now in the Jeep. You probably heard motorcycles go by, but this is life, and we are in the thick of it right now. And we're so excited to share a little bit more detail about why we.
Moved the thick of it. We're in the win of it right.
Now, so we're in the wind of it.
It's funny. I bet you I've gotten a question no shortage of two to 300 times. And they all phrase it this way the same way on DMs, on Instagram, everyone's like, oh, my God, why did you sell that beautiful home? Or, oh, my God, why would you sell your dream home? And the short answer is, because someone came along and gave us over $2.1 million profit in one year. Matter of fact, in less than a year, we delayed the closing so that we could have different capital gains taxes on the win. But that's the short answer is we literally made a profit of over 2.1 million freaking dollars in a year's time. And we just don't get attached to things, right? And so it's a number that says, would we go through the hassle of finding another place? The short answer to that is yes. And it's not even a hassle, because now it brings up this beautiful situation where we already kind of wanted to split time between two places. And this forces us to go get two homes, one in California and one here in Arizona, still where our family is.
And we've been loving this idea of, obviously, you guys know that we love to invest and money makes money. And we looked at this and said, okay, we can either stay in this dream home, or we can go and figure out how to make more money with this money and go invest in maybe some other properties and go and invest in some other investments. Like, this is a huge opportunity that I think a lot of people would have. Would have actually passed up, because, number one, they wouldn't have known if it would sell. We didn't know if it would sell. We had three offers before this fall through. This has been. I'm not gonna lie, this has been one of the most emotional times in my life. Like, it's been a roller coaster not knowing where I'm gonna have to be, where we're gonna go. How do I do that while building a company? Where are we gonna have these? You know, Chris, and I do a lot of different events. So it's like, can we even plan events here? Can we plan them in our home? There was so much up in the air. But I will tell you that the more risk that you become tolerant of, the more you can win, the more chances you have to win. And I think together you and I really walked through every scenario and every risk ended up being worth it if the house sold for what we wanted.
Hey.
Okay, I gotta give a shout out to one of my favorite humans and.
Podcasters, Kathy Heller, and I freaking love her podcast that I know you're gonna love. It's called don't keep your day job.
Does that name get any better?
Top podcaster, entrepreneur, business coach, author and my friend Kathy Heller sits down with successful creative entrepreneurs to learn what it takes to make a living doing what you love. I've admired everything Kathy does from the start of her journey because she takes so much care and has so much intention. With everything she does, her wisdom and tips are unmatched. And I myself have learned so much from her podcast that I've been able to apply growth strategies for light pink and earn your happy. You'll hear from incredible minds like actor Matthew McConaughey, hello entrepreneur Seth Godin, Shark Tank's Barbara Corcoran. I was also a special guest which was so incredible. Plus everyday people who are quitting their.
Jobs as they build their own businesses.
If you're tired of building someone else's.
Dream, if you want to quit your job and get paid to work your.
Passion, this is the show for you. Visit Kathy Heller.com Lori and you'll get my episodes on don't keep your day.
Job plus a free workshop on how.
To find your dream path from Kathy so you can take action and start living life on your terms. You guys go check it out. Now let's get back to the episode.
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Well, here's what sealed the deal for me. Remember when we were in getting your vehicle and the salesman said to me, he goes, wow, what a profit. That's a lifetime of earnings. And it hit me like, I wasn't even sure. Like, remember, you and I were like, ah, maybe we take it off the market. Maybe it's not worth it.
Yeah.
And when he said that to me, that had to have that message, had to have been a gift, Like a secret gift. Like, hey, dummy, take this. Because if someone were to earn, you know, $55,000 a year, which is the average salary in the US and they were to do it for 40 years of working, that's what we made in one year on this house. And when he said that to me, he goes, my God, he goes, that's literally a lifetime worth of earnings. That's when I said, oh, we gotta be grateful. Take this and go spread these seeds in two more really cool homes, plus some rental properties, plus everything else and multiply it.
Mm.
We're so excited. And it's funny because I didn't realize, you know, because I've been sharing, that we were selling our dream home and our last day in our home, and.
People thought it was a sassy.
So excited. We've, like, been waiting for four months, maybe five to sell this house. So we are thrilled. We could not be happier. We can't wait to have a house here by our family and a house back in California. We are like, this is like our dream scenario. And, you know, we were called to the desert. And it became very clear to us about six months in that this was not a place that we were meant to be full time.
Nope.
So that's when we really started shifting and saying, what would our life look like? What would we have to do? What would we have to sell this house for in order to do that? And we saw this window of opportunity in this market right now where, you know, could. Are other people like, oh, my goodness, can. Can we get another house exactly like ours? Like, there was a lot up in the air.
We.
We were kind of blue for a little bit, trying to find a house that we liked here because there it is a crazy market right now. There is not a lot on the market. The things that do come on are gone the next day sometimes. So, yeah, we were nervous, but this.
Is where you have to take action and trust the process. Because, babe, what literally happened five minutes ago, right, we just moved out an hour ago. What just happened five years, five minutes ago?
Chris found a home online last night. Like, literally just hit the market 10 o' clock at night and got us a showing. Got a showing for 10am today right after we moved out of our house. Papers were getting signed this morning. We go to the showing at 10am kind of frantically because we, you know, we're just leaving the house. A realtor came over, we're saying goodbye. We're doing that whole exchange, saying goodbye to the house, and we Go to the showing. We love it. It's perfect. We submitted an offer on this home and we'll see.
And we'll have another dream home.
We don't know.
We don't know if we're gonn this home.
Oh, we're gonna get it.
I know we're gonna get this home. So I know we're gonna get it.
Because I'm willing to pay the ask on it.
Yeah, that's true.
If push comes to shove, I'm willing to pay the ask on it.
Yep. So here we are.
So you gotta trust the process. Guys.
Guys. Cuz it was. It looked bleak three months ago when things were falling through. And I think you, if you weren't listening to the podcast, you know, it was, it was pretty crazy. We had two offers fall through and then the third one was a fraudulent offer. Like it wasn't. We don't even think it was a real offer. Like it was like, that's a story for another time. That's a story for another time.
Crazy. Anyhow, so if you take anything from this one, you just gotta know your number. Like what is the number that'll make you take inconvenient action. And two, when you finally take action, do you trust the process enough for in this case, another dream home to show up literally in the last minutes of the situation. And I just know we're end up with this one. So pretty cool story the way it came full circle.
Yeah. Absolutely insane. And the amount of faith that we had to have for this to happen and the amount of prayers that went into this, because I don't know if everybody would have listed, stayed on for that fourth one.
Fourth one.
And that fourth ride of full time faith, though.
How many times?
Full time faith. We always say you can't half faith. You have to have faith.
Right?
You can't have faith.
Look at you. Look at you, preacher. All right, guys, we got to get on the road to California. Thanks for always coming along the journey with us and well, the journey's just beginning. We'll share.
Here we go.
New homes and new exciting things with you.
We shall see. Love you guys.
Thanks for listening.
Sam.
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