All Forum Posts by: Calixto Urdiales

Calixto Urdiales has started 35 posts and replied 1184 times.

Hello there Jared-

I too have heard that saying before and I think it makes perfect sense but to a certain extent. Yes if you offer very low all the time eventually you will get what you need, but at what expense?

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It is all ways a pleasure to hear you speak Mike.

:superman:

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Originally posted by "DStewart":

Just be sure to check the laws in your state regarding it. In some states it is considered brokering and you must have a broker's license.

Bird-dogging is not illegal by any means. The only way one would broker a deal is to be paid at the close of a deal and is only paid contingent to close. That is the only case where you need to have your license, when you bird-dog you are paid for information not the success of a deal my friend.

Calixto

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Typically you would want to go with a Hard Money lender seein how you do not have an asset to lend against. And even then you will need about $20,000 for every $100,000 they lend you!

Good Luck!

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Sucks to be me! LOL

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Congrats Boss Man!

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Same here James looks like my hope in getting a hold of John is growing thinner by the hour! :roll: We really need to find out what he is up to or where he has gone, I think the forums need him back.

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Originally posted by "RECPATAXMAN":

You are purchasing these properties to fix up and flip. They are ordinary income and will be subject to SE tax if you do not choose a correct entity. The gains in these transactions are not capital in nature. To be capital gains, you need to hold the property as an investment. It is clear that your intent is to purchase properties, fix them up (rehab) and then sell them off. It is your business and the operation will generate ordinary trade or business income.

If you purchase property to hold for rent and then sell the property at a later date, then you have capital gains because it was held as investment property and not inventory.

Joe

So in essence I would not get taxed via Capital Gains, do to the fact that I plan to run a business and therefore I will get taxed as business income.

P.S. Oh and Jon I would not get an PITI on an investment flip I would go with a 5 year IO with no pre-pay!

Thanks for your time fellas and I will make sure to talk to a CPA for I have many many more questions and do not want to take up any more time than I all ready have. Thanks again!

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Nothing yet fellas but I will keep trying!

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LMAO

Jared your too much man too much but you know what the source of all that stuff getting in your way is right? I think it has to do with those lazy GC's not showing up, taking too much time off work, overpricing, and etc.

Just think Jared "GoosFraBa" LOL

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All Forum Posts by: Calixto Urdiales

Calixto Urdiales has started 35 posts and replied 1184 times.

Post: Making low offers in the retail market

Post: Starting a Business in Real Estate Investing???

Post: Birddogging

Post: Needing my first line of credit..

Post: America's Most Miserable Cities… The List!

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Post: Where's is John Corey?

Post: Capitol Gains?

Post: Where's is John Corey?

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