Updated over 11 years ago on . Most recent reply
New investor question
Hello, new member here with a question about financing a flip. I'm giving myself a year to build my credit, save some money, and finish my personal home flip before I purchase my first investment property and trying to educate myself as much as possible during this year. If I were to get a private money loan from a friend or relative for a house flip, what type of taxes would they have to pay on their profit? Either if they just collect interest on a loan or split the profit 50/50 from a flip. I feel like someone who is not familiar with real estate investing would like to know the answer before investing with me.