Flipping and Taxes

[Lin Gowan]

For the flippers do you just pay the capital gains on your profits or is there a way to do something tax wise that works much better??

We usually buy and hold for rent but looking to flip a couple homes and looking for the best approach

Thanks

[Account Closed]

Quote from @Lin Gowan:

For the flippers do you just pay the capital gains on your profits or is there a way to do something tax wise that works much better??

We usually buy and hold for rent but looking to flip a couple homes and looking for the best approach

Thanks

For the best tax advantages I favor finding properties "Off Market" doing “Subject To” and selling on “Lease Option” for great cash flow and nice profits. Such as: https://www.biggerpockets.com/forums/311/topics/1141313-subj...

There is no capital gains on lease options.

Even if you don't quite understand how the process works, I explain the terms and the process. look at the numbers and the results. It gives you money to buy the next property. It's a lot simpler to get cash flow and have a property worth hanging onto than it seems. But, you have to know what not to do too.

If you want a copy of the spreadsheet just message me

https://www.biggerpockets.com/users/mikeh695

It should help a lot.