All Forum Posts by: Maher Bateh

@Trent Stone

Living in Utah, logistically how are you able to flip homes in other states? Seems it would be very difficult...

@Greg Dickerson Jacksonville is a hot bed for investors believe it or not. When a wholesaler send me a lead it's sold in days 2/3 days. I also purchase through the local county auction site. When I starred in 2013 I was paying 70% of ARV but from what I can see those days are over....

I'm paying 75-80% of ARV on flips.. can you get them for less these days?

I bought my first home to rehab and flip. Below are the Numbers.

Purchase price - 49k

Rehab cost - 46K

ARV - 126k

I paid cash for the house and all rehab costs. If I decided to not flip and possibly rent out, would it be a wise decision if I could get $1100-1200 per month? The house has been on the market for 2 months and a few bites but no sale. Am I being impatient or is renting it out a decent option based on the numbers given?

Are these tax rates the same for LLC's or different than single/married filings?

Ok, so I pay marginal income tax, what number is the tax amount based on?

I am nearing the finishing touches on my 1st flip and wanted to know how much capital gains tax I will be paying? I purchased the home through the county auction in March? What % will I be required to pay?

Note - This is my full time job as of Feb 2013. No other source of income.
Thanks

Davd - Does the area call for granite? You can you a hi gloss laminate finish for a lot less. Also, a full appliance package should cost no more than $1200( not stainless)

J - What would you recommend for inexpensive cabinets for an area where the ARV is around 85-100k. Roughly a 10x12 kitchen. Can I get assembled cabinets for $1200? If so, where?