Updated almost 2 years ago on . Most recent reply
Capital gains with wholesale vs flip
Need help on a unique scenario, I purchased a property cash with the intention of flipping it understanding that I would have capital gains (please correct me if I’m wrong.) when selling it.
-However, I have decided to just sell the property, I was thinking about putting an assignment contract together with one of my LLC's for another investor that wants the property and wholesaling it. The tricky part is it is currently in my spouses name (who is now in Title) because that's how we purchased it.
- Will we still have capital gains if I put it under an assignment contract with my LLC and sell it to an investor?