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Results (10,000+)
Chad McIver Help with tax liability of first successful flip!!
25 January 2014 | 16 replies
@Chad McIver You gains are not "capital gains" rather they will be treated as ordinary income, meaning they will be taxed at your marginal tax rate.The tax law basically states that if you purchase an investment with the intent to hold either for cash flow or appreciation, then profits on sale will be treated as capital gains and taxed at the capital gains rate.But since you are flipping a house, you did not intend to hold it, and will therefore be treated as inventory and taxed at your marginal rate.Also, as far as I know, you cannot roll over your gains on a house you did not intend to hold as an investment (i.e. a house you flipped).
Brennen Cook Quitclaim, Gifting Real Estate
23 January 2014 | 3 replies
He is basically retired ( Psycologist ) He can afford to live but I do now know about qualifying for a HELOC.
Angela Ruiz My husband and I would like a mentor...
13 January 2015 | 23 replies
You'll also make contacts with new agents that, if nothing else, can get you access to the MLS.You can spend years trying to follow some niche strategy and never learn the basics of RE.
Adam Smith New Member From Firestone, Colorado
23 January 2014 | 16 replies
Basically, 25 miles north of Denver (give or take).
Luis Plaza Ernest money deposit
11 April 2014 | 12 replies
Basically my escrow agent has been holding $500 in their account.
Joseph Tarallo If you have 2 properties paid off what could you do ?
24 January 2014 | 12 replies
Joseph -Yes, that is basically what a refinance is.
Seth Williams Delinquent HOA Fees: Scenario Question
20 February 2014 | 4 replies
If you do not pay, attorneys go to court on behalf of association and file a FED (a forcible entry and detainer action) to basically evict you, the owner, and take possession of your unit and then (wait for it...) rent your unit out to a bonafide tenant until the delinquent account has been satisfied.
Jose Guevarra Your opinion on Bird Dogging/Deal Scouts
8 March 2014 | 19 replies
Here's some that I can think of:Rate bird dogs or lead statistics (closed vs unclosed)Check if a lead (home address) is already listed in MLSBird dog basics and guidelines (educating new bird dogs)Pay bird dogs through appForumFind new bird dogs in your areaList your personal criteria for good leadsList details of lead (address, why owner is selling, in forclosuer,etc) What do you guys think?
Gabriel Trieu Getting to My 1st Deal: Update 2, Attempt 2
25 January 2014 | 4 replies
This was a trick another investor used and talked about during the REI expo last year in order to increase the response rate, which it did.
Seneca Hampton What does it mean to get a property under contract?
24 January 2014 | 11 replies
A little oversimplified, but that's the basics of the process we follow.