All Forum Posts by: David Holt

Depends on the neighborhood and how fast you get in and out. I just watched three come on the market and sell at asking price in less than a week. Houston is dependent on oil revenues but it's a huge city. 

Good luck Jeff and nice to "meet" you.

Thanks Belinda. I am actually planning to go to a RICH meeting as soon as we return from Christmas travels. Hope to see you there.

Thanks for the vote of confidence and warm welcome Joe.

Nothing happened due to good CPA advice on the front end. I was commenting on the difference between the max 15% tax on the investor that holds for over a year renting or the flipper/dealer that has up to a 35% liability. If you are holding you are an investor and the irs sees it as investment property, if not you are a flipper/dealer and the IRS does not see the property as an investment for tax purposes.

Problem is with two government definitions of "investment" you still can't go to HUD and say the irs does not consider my purchase as an investment since I am planning to flip it so let me skip the 15 day rule.

I love the logic of the government. They make you wait 15 days because it is an "investment". Try to tell the IRS your flip property was an "investment" and they will laugh you out of the audit and tell you to get a lawyer. Govt entities not talking the same language.......shocker!!

Thanks Jeff. Good luck on the Hobby property. Are you renting or flipping it?

Good advice AG. I saved your web page and will dig into it later.

Hi all!

Just joined after reading BP for a while.

My name is David and I just returned to the good ole USA after living in Africa, Europe and lastly the Far East over the last six an a half years. After 20 years in the corporate world I am now putting more time towards doing what I really enjoy. Prior to leaving the USA and the financial crash I had purchased 5 properties and recycled (flipped) another 3 more with good returns. Probably beginners luck but it lit the fire to do more now that I am back in the USA .

I graduated from UCF (Go Knights!) and have a gorgeous and very smart wife and two beautiful daughters that I hope take more after her than me! ;)

I look forward to learning, networking, learning and then learning a little more.

My target this year is to get a good mix of fix and hold sf homes and sf flips. The flips are addictive though so I will have to exercise the restraint needed to hold and rent a few.

For the locals I am on the Clearlake side of Houston.

Thanks