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All Forum Posts by: Lin Gowan

Lin Gowan has started 4 posts and replied 8 times.

Post: Flipping and taxes

Lin GowanPosted
  • Posts 8
  • Votes 3

For the flippers do you just pay the capital gains on your profits or is there a way to do something tax wise that works much better??

We usually buy and hold for rent but looking to flip a couple homes and looking for the best approach

Thanks

Post: Flipping and Taxes

Lin GowanPosted
  • Posts 8
  • Votes 3

For the flippers do you just pay the capital gains on your profits or is there a way to do something tax wise that works much better??

We usually buy and hold for rent but looking to flip a couple homes and looking for the best approach

Thanks

Post: Where to buy now

Lin GowanPosted
  • Posts 8
  • Votes 3
Quote from @Dave Foster:

@Lin Gowan, holding and flipping are very different investing structures.  Right now you've probably got long-term capital gains treatment for your rentals.  As soon as you convert those into a flipping business of any kind you'll move into ordinary taxation of your profits.  That requires a much higher rate of return to equal what you're giving up in additional taxation.  Not that it's wrong.  But you have to figure that into your equation.

A traditional path for long-term investors is to 1031 into different classes/amounts/locations of real estate.  So you've got a valid search going on.  Find the best real estate in the best location and do your 1031 into that as @Travis Timmons said.  The 1031 is plenty flexible to allow you to go into any type of real estate anywhere.  So no need to do something just for a tax benefit.  Do what is best and enjoy the extra benefit of indefinite tax deferral.

That's what you lose if you take these profits and move into a flipping structure.  


 I am curious with the equity built up when its time to retire how do you use that equity at that point?? Or are we just trying to live off rental income??

Post: Where to buy now

Lin GowanPosted
  • Posts 8
  • Votes 3

Boise

Post: Where to buy now

Lin GowanPosted
  • Posts 8
  • Votes 3

is there a way to delete one of them?

Post: Where to buy now

Lin GowanPosted
  • Posts 8
  • Votes 3

Sorry about the two posts I thought it did not go thru 

Post: Looking for new investment

Lin GowanPosted
  • Posts 8
  • Votes 3

Hey Guy

We currently have rental properties. We are currently rehabbing one to sell. 

Looking for new investment once we sell. Anyone have any opinions on where to put that money. Possibly land flipping???

any ideas would be greatly appreciated 

sincerely

Lin

Post: Where to buy now

Lin GowanPosted
  • Posts 8
  • Votes 3

Hey guys

We do have rentals and we are rehabbing one to sell. So my question is where should we put that money now from the sale?

We were looking at possibly trying our luck and flipping land near where we currently live.

Any ideas or opinions would be greatly appreciated 

Thanks

Lin