I know Bryan Jacobs… probably had a piece of the deal
Darn flippers. I’ve seen some TV programs about them. The hypocrites are most republicans, but hey! Here they go! They grab the phone and call Pedro or Mario with a bunch of illegals in their crews.
Then, after all the suffering, they got $50K profit! But they forget to tell us about taxes and whatnot.
Well, if it is correct that the cap gains exclusion rule is untouched, commence flipping folks!!!
I’m jealous. How come all you people have such early puberty??? 
if you flip houses on a regular basis, it’s considered “earned income”, not capital gains. The intention is key. If you bought a property and rented it out for a year, then fix it up, and just to be safe, offer it for rent for another 3 months (maybe make the rent so high, that it stays vacant), then it would be “sale of a business asset” and treated as capital gains.
If you have a history of buying rentals and keeping them for a while, then you can make the case that the occasional flip was intended to be a rental.
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Move into your flips, live there 2 years and flip tax free.
Rentals probably need to kept through 3 calendar years to be safe buy in Dec 2017 and sell Jan 2019
Lending out hard money is easier than flipping right? It may not make as much but how much is the difference typically?
Yup, my brother’s good friend did that continuously and amassed a fortune (and with a family and kids mind you). My neighbor (well, former soon) just flipped his small home for a nice return and he already is working on his next project.
Since I see 2 types of investors, or three, those who flip homes as a business would know more about really flipping. Others, as I saw during the last recession were still listening to the siren’s song and got caught with their pants down and holding the cat, and their houses on foreclosure at the same time.
I don’t know if you guys should ask ptiemann about the way he deals with his business, a corporation, LLC or what. That makes a difference in your returns.
Never lost flipping. Lost big money hard money lending… the less control you have the more risk
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But can’t you foreclose if they can’t pay the loan? How did you lose big money on hard money?
They were not first deeds of trust. Equity wiped out. I learned my lesson the hard way, only do firsts now.
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Yes, that was the first lesson to learn when heading to the court steps to do your bidding.
Foreclosure takes time and money…