Taxes and Wholesaling
Hello,
New to the BP forum. My wife and I are just getting into the real estate investing world and are trying to figure out what niche we should really focus on.
My wife is a real estate agent and I have worked in construction for quite some time now, so it makes sense to us to be a flip team. But we are interested in owning rentals as well, and possibly getting into wholesaling.
Could anyone give me some info about capital gains tax and any taxes involved with wholesaling? Our understanding with capital gains is that unless you occupy a home for two out of five years you will be taxed a pretty high percentage of what you have earned, so if this is true it seems wholesaling wouldn’t be worth the hassle unless you found a killer deal.
If anyone has any insight on how taxes relate to wholesale, it would be much appreciated.
Thanks!