Flips & What's a good profit?

[Pat Ayres]

Hey everyone at BP,

I am working on my first (non live-in Flip). As it stands now with rehab costs, holding costs, Closing costs, & paying the buyers agent, I will net out at $33,000. Since I am not flipping as an LLC, I will declare the income & add in all my deductions, in addition to my w2 income, should I expect to pay much on that $33,000? Also, with this being my first flip, is a spread of $33,000 pretty good or should I really pinch pennies and try and push closer t0 $40k? Let me what you guys think or if you have any advice. Please link any and all articles or books where I could get a better knowledge of what I am getting into! Thanks! - pat