All Forum Posts by: Jefferson Mcvicker

I need a contractor or a handyman for a small job on a rental property. Front porch needs wood replaced with new on the floor.

@Ryan Hazelwood

I’m 20 and have 2 rentals (single family) paid cash for both my plains are to flip a house this year. Then start scaling my flipping business and use the profits to buy more properties. I’m also working with a bank currently to pull equity out of both of my houses to buy another house. I’m very excited for my future!

@Basit Siddiqi

Alright, I appreciate the help.

I’m planning on to flip a house later this year. When I profit from a flip I know I have to pay the capital gains, is the tax paid at closing? Or do I pay the capital gains when I do my taxes next year?

@Cory Childs I appreciate your help

Hello, I need some help. I’m wanting to pull equity out of both of my houses paid cash for both. I’m just not sure if I can do it, do I have to have tax returns from both properties? Because I will not have the tax return until next year. I have a 3 year job history I was wondering if they will just go off of that. He asked for rent roll. Also the VP of the bank said he is willing to work with me. Please help me.

@Richard Rodolfo

You don’t need a appraisal just find comps and see if it’s a deal or not. With the lease you would have to make a real lease ether month to month or a 1 year lease lease. I hope this helps you, good luck.