All Forum Posts by: Kevin Simmons

My brother & I have been talking about getting into real estate investing for about a year now. We have listen to a lot of BP podcast and have come to realize getting rich quick isn't going to happen. While talking with my real estate agent uncle and telling him Were going to whole sale and start flipping houses he told me to look into TAX LIENS & TAX DEEDS. We have listen to the BP podcast SHOW 56 featuring ANKIT DUGGAL about 50 time. We want to know as a new investor with little money to start investing with are TAX LIENS AND TAX DEEDS worth investing into as a business? Will we ever be able to work for our selves full time or is this just a part time business for investors with less than 100+ grand to put into it? How do you scale this business? How can we syndicate deals? These are just a few questions we have. Any and all help is greatly appreciated.

Hello BP members, I am new to fix and flipping in the dmv area. I want to know about the taxes involved with fix & flipping. Do you get taxed on what you don't put into a second property or are you taxed on the whole deal of you take a piece of the profit for yourself? So for example if I flip a house and profit 100k and decide to keep 40k for myself and put the 60k left over into my next project will I be taxed on the whole 100k or just the 40k I took for my self?

Hello BP members, I am new to fix and flipping in the dmv area. I want to know about the taxes involved with fix & flipping. Do you get taxed on what you don't put into a second property or are you taxed on the whole deal of you take a piece of the profit for yourself? So for example if I flip a house and profit 100k and decide to keep 40k for myself and put the 60k left over into my next project will I be taxed on the whole 100k or just the 40k I took for my self?