All Forum Posts by: Todd Bright

I have a question for anyone familiar with the tax laws involved with capital gains tax.

My father in-law has been scrambling to get his second home ready for market to sell this year because he believes he will have to pay capital gains tax. From my understanding, you have to pay capital gains tax when you sell the house, not from holding it. 

More info to clarify, this house was his original primary residence until he bought a second home in 2013. He now lives in the new home he bought so it's considered his primary. 

Thanks for any help in advance.

Are there any investors that are active in McKittrick and/or Taft, California area?  Im looking to get into a flip or potential brrrr, but I live in Nipomo were the property values are just too high for me to get involved with.  These two towns are about 2 hrs away so I think I could make it work. Any guidance is appreciated!  

Thanks everyone for the informations and references.  

@J Scott I picked up that book as well as the book on estimating rehab costs last week.  

Thanks for the tips! Great video too.

What are some key factors to look for when analyzing a market for flipping?  A family member of mine lends to flippers in Kansas City, MO and asked me if I would go there with him and flip a house.  Also, if there is a lot of competition in a market would it be better to look elsewhere are jump into the trenches?  Any feedback is greatly appreciated.

I stumbled upon the bigger pockets podcast on iTunes and decided to listen to an episode. Since then I have listened to over half of the podcast episodes and thought I should give the site a try. I am from San Luis Obispo county in California and in my free time I love to hunt and fish. I am most interested in flipping houses and maybe building a rental property portfolio in the future.