Fipping houses for profit has been the latest “trend”, especially on TV and they make it out to be so easy; find it, flip it, sell it, $$$.
However, I was under the impression that you have to pay a Capital Gain Tax on the profit of the sale, which is never mentioned on TV. Is this true or is there ways around it?
I’m interested in buying land and building homes, turn around and sell ‘em and make profit…. How to get started?? We don’t have alot of money , we would have to borrow the money to buy & build, and would love to make a profit and continue buying & selling. We are new at this… We would like to retire early one day off of doing this.
I have seen several infomercials such as John Beck’s system. I would love to have rental properties. It just seems to good to be true. It is something I have been wanting to do for awhile.
I know the variances can be significant, but I mean, generally speaking, what is the per-unit profit on a 50-100 unit apartment building in So Cal after: operating expenses, insurance, and an average commercial loan structure. $100 per unit? More or less? Am I even close?
If a profit and loss is due November 25, and in it a year to date profit and loss statement included, would that mean January to October? Would it be one statement to cover all those months or a separate one for each of the months? This is for a self employed person for their mortgage lender.
What is the big rush to get these houses done so quickly when people repair and flip them? I understand: to make alot of money but sometimes it is $100,000 profit. A one owner business. Why the 4 week deadline?
I was looking for a place to stay at Snoqualmie (Washington) and just wondering how much do these people profit?
Most of these places are for snowboarders/skiers and very close to the lifts. They are luxurious with big screens,hot tubs,etc.
Do they profit at all?
Is this maybe a good investment to get into?
Devil Girl asked: I have a bankruptcy that was fully discharged over a year ago, and some of the items are still showing on my credit report (I am getting that fixed, of course). I make 4-5x (net income) the amount of rent (looking for around $800/month - less is great, a little more is fine). I’ve been denied by two places already, and I need to move in two weeks. HELP!!!!
honesty asked: looking to prove to a lender, I can be a good investment in, although I,m new to investing with not much to offer on a deal. I’m looking to build a solid long term working relationship.
Mike asked: Looking at a spec home in a large development that is not selling well. They already discounted it from $249k to $207k
How much profit is there in these homes? How desperate are builders to get rid of these homes?
Will major home builders majorly negotiate the prices down even further, or do they stick to their asking price?
