All Forum Posts by: Bryenne Korte

Thanks for all the great insight, @Meghan McCallum! I wasn't able to attend on Sept. 20th but would love to join you for the next one. I'll shoot you a message!

I am looking for Agents and/or partners that can help me find a good deal ASAP in the Grand Rapids area. I am interested in making a cash offer on a fixer upper flip or rental property, single or multi-family. I have the resources, but need help sourcing the MLS and finding off-market deals. I have a solid Private Lender and General Contractor lined up and ready to go...we are motivated!

Please let me know if you are interested in working with us or can point us in the right direction!

You guys are awesome! Thanks for all the helpful information... I think I'm finally clear. Appreciate it.

Hi BP! I'm hoping someone can shed some light on some general tax questions as it relates to fix and flips. I've read several posts and have spoken with a CPA, but I'm getting conflicting and spotty information. I'm very close to purchasing my first property (in Michigan) that should profit $20K. I do have a W2 job as well. Here are my questions...

1. Will I be subject to both capital gains AND self employment on the $20K profit? 

2. If I purchase another home at equal or greater price prior to filing taxes, will the $20K still be subject to these taxes?

3. I've read that holding the property in an S corp is one way to avoid the self employment taxes. I'm a newbie with a W2 who will be flipping maybe 2-3 properties per year on the side....is it worth it to open an S-corp? Is it difficult? Are there special qualifications? 

Thank you in advance!!

Bryenne

@Jacques Cyr I'd be happy to send you his info. Please connect with me so that I can message you. Thanks!!

Hi Doug! Not at all! His name is Dave Goven (Goven Construction). I'm unable to post his phone number outside of the Bigger Pockets Marketplace, so I'll message you that directly!

Hi All! I know a great "jack of all trades" GC available for work in West Michigan -- Muskegon/Grand Haven/Spring lake area (willing to travel further if needed). He has 7+ years experience working for a well-known West Michigan custom home builder and in general building maintenance. Does incredible work and interested in all projects big and small. Message me for more details and contact information!! 

Hi All! I was listening to one of the Bigger Pockets podcasts this morning and Brandon mentioned that he looks for at least 12% cash on cash return on his deals, but that this percentage can be different depending on your area/market. I'm curious what other investors in Michigan are generally looking for as far as cash on cash return? I'm looking for deals in the Greater Grand Rapids area. Thanks!

Welcome @Nick McDonald! My boyfriend and I are just starting out as well, looking for our first deal in West Michigan. If you need any help with your flips, my boyfriend is a General Contractor and specializes in custom home building. Would love to work with you at some point! Good luck!! --Bryenne