Depending upon your tax rate, you could lose 40+ percent of the money to taxes and penalties.

., the trustee or custodian), C) An employer, any of whose employees are covered by the plan (this generally is not applicable to IRAs but dos include the owner of a business that establishes a qualified retirement plan), D)An employee organization any of whose members are covered by the Plan (this generally is not applicable to IRAs), E) A 50 percent owner of C or D above, F) A family member of A, B, C, or D above (family members include the fiduciary’s spouse, parents, grandparents, children, grandchildren, spouses of the fiduciary’s children and grandchildren (but not parents-in-law), G) An entity (corporation, partnership, trust or estate) owned or controlled more than 50 percent by A, B, C, D, or E.

I've been a renter and improved several properties in my lifetime- then been forced to move because the owner could get more rent out of the place with the improvements.

Come on y'all, this is a once in a life time opportunity!

At least you should have lower maintenance costs since you have done some major improvements recently.Look up the 50 percent rule and see if your property fits or is close that criteria.

Our average borrower pays 73% and I suspect your potential buyers wish they could buy at 60% but would pay more.Many forget that it’s not percent you take to the bank, but dollars.A low dollar flip, as you presented in your example, would be extraordinarily risky for all but the few who could control their expenses tightly, knew the area well, had good relations with the building department, a great contractor, etc., etc..

Of course the company gets a higher percent then the two agents combined.

then you really need to punch your numbers into one of those online amortization table producing sites to come to grips with reality on this.Go to this link:http://www.bankrate.com/calculators/mortgages/amortization-calculator.aspxEnter 50000 for loan amount, and 8 percent (it defaults to 30 years).

One of the homes had a value of $250 (two hundred fifty dollars).

Most of my DOT had the following as an example:That certain promissory note made of even date in the original amount of One Hundred XXXXX ($146,000) bearing interest at 8.125 per cent.