Updated over 6 years ago on . Most recent reply
Why don i like flips, please chime in
Death & taxes .... Don do flips. Waste of time & money. Why would you want to work hard to pay ordinary Federal & state taxes, self employment, medicare and what not? Why to give 50+ percent of your profit in taxes? Do a time delayed flip instead. Add property to your portfolio as a rental, rehab and sell property from your portfolio. Now you can do 1031 and defer taxes, or pay a long term capital gains ... Makes your flip 25% to 75% more profitable ... What am I missing? Thoughts?
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@Dan Bryskin 50% of something is better than 100% of nothing.
Some people dont want to be landlords