All Forum Posts by: Adekunle Popoola

You are correct. The profit was quite sizable. I couldn't take the risk of letting the seller see it on the HUD.

 Thank you!!

Thanks! Just to clarify, will it be subject to capital gains tax since it was a double close?

I am an wholesaler who recently had a double close. i would like to know the following?

-Are my proceeds subject to capital gains tax?

-If so, What portion of my proceeds will be subject to the capital gains tax?

-Considering the fact that my primary business is wholesaling, shouldn't my proceeds be taxed as ordinary income?

I would greatly appreciate it if anyone can shed some more light on this issue for me.

I am an wholesaler who recently had a double close. i would like to know the following?

-Are my proceeds subject to capital gains tax?

-If so, What portion of my proceeds will be subject to the capital gains tax? 

-Considering the fact that my primary business is wholesaling, shouldn't my proceeds be taxed as ordinary income?

I would greatly appreciate it if anyone can shed some more light on this issue for me.

@Dave Foster I super appreciate your reply. I will reply here and pm you with any other questions that may come up. Thank you and thanks for connecting!!

Hi Guys, I am excited to join this community! I currently have a wholesale deal in which the seller would like to 1031 her proceeds. I am aware that 1031 exchanges come with its rules and regulation that can make things difficult for wholesalers. How can I legally have my wholesale fee on the HUD?

I would appreciate any suggestions and insight. Thank you!!