All Forum Posts by: Olivier Mader

 I have been a landlord for years and was actually thinking of doing the Home flipping/landlord thing full time as I created a big enough capital base so that I don't need my job...  However, once I stop working my regular job, I will have to pay almost 40% in taxes on rental income due to the changes in Tax reform to make rental income subject to Self Employment taxes. If my tax rate is 25%, my rental income will now be taxed at 40%.. I don't want to give almost half to Uncle Sam.. If I flip it's either 20 - 25% (my regular tax rate) or 15% for long term capital gains if I hold the house over a year.. I refuse to pay over 25% on anything.. My tax rate is low as I have 2 little kids and my wife does not work... If I was single I would be in a much higher tax bracket..

only things that I did NOT do myself was the stucco, drywall finishing (I hand the drywall myself but have someone finish it) as also the new Central AC (attic air handler)

another good pics of guest bathroom

Current state of the garage conversion.. Stucco done.. Now needs garage doors and opener.. Then paint..

Originally, I was planning on renting it but as Tax Reform appears to be passing and Rental Income will be subject to Self Employment taxes, I prefer to flip it.. 

Kitchen

4th bedroom (bonus room conversion)

Living Room and Dining area..

Master Bathroom

Bedrooms 2 and 3