All Forum Posts by: Anna R.

Hello! 

I am currently in search of a licensed residential Architect/Engineer in the Phoenix Greater Area and would greatly appreciate any recommendations or referrals. I am specifically looking for an Architect/Engineer who specializes in residential - single family home ground up projects. 

Thank you in advance!  

Which larger banks give rehabilitation loans. I am looking to start full mortgage payment after construction completion. I understand that during construction I would just pay the interest rate. Please share your knowledge. Not interested in FHA loans.

When you do cash out refinancing this just means you are getting refinanced loan for $450K.  50K is being sent to you as a check once the loan refinances.  But at the end you are still left with $450K loan you need to pay off. It might give you a benefit of quick cash on hand to pay off loans with higher interest rates, lower mortgage interest rate or may help with eliminating the mortgage insurance.

no

I have just flipped the property I lived in for 14 months also my first property as a home buyer. I would like to continue this business as this flip has been very favorable to my income. 

This house is currently on the market.  I would like to leave a nice down payment on the next house and get the rest on a construction loan from a lender. I never owned a business should I state that this property is my business and will this help me get a construction loan easier on the home I wish to purchase in the next few months?  Also for tax purposes is this a good idea? 

So whats the smart way of buying flipping in a 6 month period and sell. How are others doing it? 

But I do not want to rent the properties I want to sell new constructions and sell within 6 months of purchase. Are there any other options. How are others doing it? 

What if I hold the property for over a year? 

So that means I will pay whatever percentage will equal my full time salary plus the money made on the house correct? 

If I am currently full time employed in Illinois and fit into the 28% Tax Bracket, what taxes do I pay for my flipped property? Am I still paying 15% of capital gains or do I pay 28% on capital gains due to my current earnings? What if my capital gains including my employed earnings are over 200K do I pay 33% as tax brackets indicate. Lets say that the property is my second property and I will sell it after 6 months.