Well, That FLIPPING sucks! Taxes and expenses?!

[Tyler Jahnke]

Hello BiggerPockets!

A few things:

1. I have no experience flipping a home, but see myself doing it within a couple years.

2. I'm always looking to soak up as much knowledge as possible.

SO...

You found a property, you fixed it up, now it's time to sell. 

What kinda of taxes and expenses can one expect that would cut into profit?

I've heard various things online...that you would lose 40% of your profits to taxes.

That $30K you just made...is that really only $18K in the bank?

Thanks!

-Tyler