All Forum Posts by: Chris T.

I think it just depends on how much you like $2,000!

Also, wholesaling isn't really that time consuming, that is, as long as you aren't chasing around 1 or 2k deals.

Oh, well I checked your link and that explains your position!

I would like to outsource cooking, grocery shopping, paying bills, folding clothes and just about everything that isn't FUN or GOING TO MAKE ME RICH, but eventually you would spend all of your time and money outsourcing rather then living your life.

I'm learning that what Michael Quarles is talking about is true.

Recently, I've been looking into creating yellow letters myself.

First, I created a font with my own handwriting.

Then, I ordered invitation style envelopes that I will print myself using the handwritten font.

I ordered some multi-colored filler paper, college ruled, just like notebook paper you use at school. I'll print my letter on that using my handwritten font.

After that I will fold, stuff, and insert a business card magnet.

Finally, I'll take it to a presort mailing service in town who will print the postage at about .18 a stamp!

There is more work involved this way but it saves thousands of dollars per mailing for me.

The cheapest yellow letter company I've found charges .78 per piece. With 6000 pieces I spend $4680.

Doing it myself, including magnets, costs
about $3,000; without magnets it's about $2,000. (that is .33 per letter)

Hopefully all goes well printing that many letters on my home computer using 16 lb, 3-hole punched paper!

Eventually I'll get a worthy printer, and a pitney bowes meter to do my own bulk mailings. Then maybe i'll be a yellow letter vendor myself!

Good to hear Ryan!

It's funny how something so simple can make me freeze up!

Buyers ask a few questions or use funding out of my comfort zone and I forget everything I thought I knew!

At least this time I didn't curl up into a fetal position and call you, Ryan! lol :oops:

I'm flipping a deal to an investor who is using a line of credit from Bank of America.

Should I expect anything different then a normal cash deal?

Ok, thanks.

My understanding is that the profit is taxed, not a % of the sales price. With that being said, his profit is less then $10k so even if he did have to pay capital gains it wouldn't be that much.

It's been about 3 years since he's lived in it and he's owned it since 2001.
It has only been rented for a few months and for less then the mortgage payment.

Hello,

My brother is selling a home that he's owned for several years. It has been rented part of the time. Aside from his personal residence this is the only property he owns.
Does he have to pay long term capital gains tax on this? If so, is it 15% of sales price?

Also, how can he avoid paying it? 1031 like kind exchange?

Do Telegrams still exist?