Good afternoon everyone!I have always been surrounded by real estate and real estate investing since I was little. When I graduated I decided to pursue a career in becoming a real estate agent! It has been 4 months an...

To gain investor confidence, ensure the investment property numbers are real, use the most common contract forms in your state (versus a 2 or 3-page) internet/guru contract form) with appropriate addenda, or an attorney-drafted form and attorney-drafted assignment agreement.

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $20,000

Cash invested: $45,000

Sale price: $99,000

Contributors:
Peter Vekselman

Partner Driven...

Did the proceeds from the sale count as short term or long term capital gains?

Your net gain is your net sale, minus your adjust cost basis.

Just trying to gain a sense of hot or cold. 

No capital gains! 

Your sibling can use a 1031 exchange to defer capital gains taxes on the sale of the rental properties by reinvesting the proceeds into like-kind investment properties.

My name is William Taylor, I am extremely excited to be a Pro Member in the BiggerPockets community and ready to gain immense knowledge from all of the contributors.

I would sell and take your gains.