Updated about 5 years ago on .
First House Flipping
Finally after a long crazy 2020 year, we have signed the contract on my flipping house that we did in the beginning of 2020.
Original Projected sale was April but it was pushed back due to Covid, so we started selling the beginning of October 2020, had a good offer within a week on the market, Agreed with the price and contract was signed last week.
Luckily we had enough capital for the unforeseen craziness, and we're able to make about 12% net profit even I felt I made tons of mistakes on our first flip.
I have a quick questions for all the House Flippers out there,
How do you maintain Flipping business ... project after project, our concern is paying the cap-gain tax which will kill our profit tremendously. So if we decide to keep going with the flipping.
We can't use the 1031Exchange due to 1 year or more rule.
