All Forum Posts by: Jonathan Santiago

I just watched a video online of someone explaining why he would never flip a house. He basically said the reason is because if you flip a house it is considered ordinary income tax + self-employment tax which ends up being at least 30% tax vs. a 15% long-term capital gains tax. Is this true? Does it vary by state?

I have a property in MA I've been thinking about selling that is not my primary residence and I have not owned it for 2 years and I was under the impression I'd be liable for capital gains tax on any profits made not ordinary income plus self-employment tax. Any flippers or CPAs who could give me clarification on this would be greatly appreciated.

Interesting article I came across that explains why in some markets housing prices have actually been going up. How has your market responded so far to the current pandemic? I am interested to hear perspective from different parts of the country.

https://www.curbed.com/2020/5/21/21264167/coronavirus-housing-market-prices

 Am I the only one who doesn't see the link? George I don't know if you attached a link to this post or a previous post but either way I don't see a way to join at 5pm today.

Is this for Tuesday May 19th at 5pm? 

Hopefully looking to close on my 2nd deal within the next couple weeks and was able to get my dad to partner up with me which he has been dying to invest in property. So I am financing under my name and we are putting both our names on the deed. My question is, what kind of contract, if any, should we put together to protect both of us? Should we speak with a lawyer to help us draft one up? Still pretty new and looking to get some perspective from people who may have done similar deals in this way. 

I am a new real estate investor who is looking to close on my first deal in the next 2 weeks and I want to be prepared for tax season. Can anyone recommend a CPA who is well versed in Real Estate tax law in Massachusetts? I am about 30 minutes north of Boston buying a house in a town called Lawrence, MA.