Under a year it is a short term capital gain, and it goes as ordinary income at whatever your tax bracket is.

however, do some short term loanssuch as car loans or personal loans such as getting a computer loan. credit will get better by you repaying loansthis is the fastest way to increase your score. thankssunsmicro

You almost definitely don't want the HELOC long-term, I was trying to find a way to use it to your advantage in the short term.

I'm going to be getting in RE investing shortly but I want to network with a mortgage broker first because that will be the hardest part for meI have good credit for my age, but since i'm only 20 it's not the highest since I haven't been around long enough for it to get high.

Hello, I am in the Cincinnati area and am looking for an agent dealing or specializing in investments such as forclosures and short sales.

You will need to get with someone specializing in short sales to overview it for you.Oh yea....almost forgot!

This is does not insure a profit but is the closest way to figure that you won't take it in the shorts if you have to sell.

Now I only contact the listing agent, and every time I hear "oh I work with investors all the time let me send you some listings" I tell them thats great and also included a list of repairs needed on the property and an ARV. long story short I never hear back from them.

LC is short for Land Contract.

So I found myself a willing seller, have a property under contract and am now negotiating my first short sale flip with the bank.