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9 August 2018 | 1 reply
This means the profit is taxed as ordinary income (not capital gain) and subject to self-employment tax.If, however, you're portfolio shows a history of rentals, you intended to get into this property as a rental but ultimately decided to sell for whatever reason, and this "flip" is not a regular occurrence, you may be able to avoid classifying it as a flip subject to ordinary income and SE tax.Definitely make sure to speak to your CPA to get specific advice on your personal situation.
18 August 2018 | 4 replies
Because my husband cannot walk very well, and he is very slow to do anything, when he has enough energy to do anything, I had to clean out our two car garage of all his tools and all the stuff in it, as well as pack all our stuff in the house, and I worked day and night.Had to call for a special pickup for all the junk that we had to throw away, that I alone had to haul out to the curb by myself.
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13 August 2018 | 1 reply
@Alice Tierney I'm not in your market BUT generally if you have a fresh coat of paint and new flooring along with a clean unit I've found that you can really set yourself apart from the market.
21 August 2018 | 5 replies
I'm sure there are plenty of other ones out there, but those are the two that I hear about regularly.
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10 August 2018 | 18 replies
If this is true, then the increased income I receive from the option fee and sale price has to be weighed against the risk of having a much more expensive eviction process than if I were to rent the property out regularly.
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9 August 2018 | 2 replies
The agents shown on Zillow, other than one that may be specifically designated as the listing agent, are just regular agents who pay Zillow for advertising.
14 August 2018 | 3 replies
As I understand it, if you sell within one year, you are taxed at your regular income tax rate.
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15 August 2018 | 81 replies
Alternatively, discussing the actions we are taking is good dialogue.Just giving you some background on the nature of the replies from regular contributors to the forums.
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9 August 2018 | 2 replies
Here are the details on a couple.Property 1TriplexRent: 550-800 per unitAsking price: 79,900ARV: 78000Rehab: 0-1,000 (currently rented so im assuming minimal work needs done if any) Propert 2DuplexRent: 650-800 per unitAsking price: 49,900ARV: 63000Rehab: 0-3000 (current owners recently cleaned and painted both units)
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13 August 2018 | 9 replies
You aren't going to find a lot of information that differs from regular SFR flipping the only big difference will be the HOA.