How do you pay for taxes when flipping houses while spliting profit ?
xxjae_bxx asked:
I plan on starting a business designed to flip houses and eventually go on to commercial real estate. The income will be placed back into the company and the company will hand out checks to the workers which will be me and my friend . Does my profit from my house flips still get taxed as self employment or what ?
I plan on starting a business designed to flip houses and eventually go on to commercial real estate. The income will be placed back into the company and the company will hand out checks to the workers which will be me and my friend . Does my profit from my house flips still get taxed as self employment or what ?
whats the best way to get started in flipping houses for profit?
Mommy2Be asked:
I watch flip that house and the real estate pros all the time, I think flipping houses would be fun and I know the income great but how would I get stsrted? Anyone know?
I watch flip that house and the real estate pros all the time, I think flipping houses would be fun and I know the income great but how would I get stsrted? Anyone know?
Is it wise to take out a loan to start flipping houses in Virginia?
work 4 self asked:
I want to start flipping houses, yesterday! I’ve read up on how many people started and it seems that they begin with money they had saved or profit made from selling their own home. Well, I can’t sell my own home for another 4 years. I do have some savings but if I deplete my savings, I won’t have money to fall back on to make mortgage payments while I am waiting for the house to sell. Therefore, my only other alternative (that I can think of) is to get a loan from the bank to buy a property. My concern is, what are the chances of making a profit from the sale, after I have paid the bank their money back with interest? Has anyone started out in the business like that and found it successful? Any other suggestions?
I want to start flipping houses, yesterday! I’ve read up on how many people started and it seems that they begin with money they had saved or profit made from selling their own home. Well, I can’t sell my own home for another 4 years. I do have some savings but if I deplete my savings, I won’t have money to fall back on to make mortgage payments while I am waiting for the house to sell. Therefore, my only other alternative (that I can think of) is to get a loan from the bank to buy a property. My concern is, what are the chances of making a profit from the sale, after I have paid the bank their money back with interest? Has anyone started out in the business like that and found it successful? Any other suggestions?
What’s the best way to learn about flipping houses?
sqky15 asked:
I’m looking at getting into flipping houses. Do you know of any really good books that have good information in them?
I’m looking at getting into flipping houses. Do you know of any really good books that have good information in them?
What’s the most important thing to know about flipping houses?
Digz asked:
what are the most important things to know and what are the benefits of flipping houses? why should people do it? what do you need in order to flip a house?
what are the most important things to know and what are the benefits of flipping houses? why should people do it? what do you need in order to flip a house?
Would a c-corp work for someone “flipping houses” for tax benefits?
mrflip asked:
I am looking into the business of flipping houses, so after reading more into it I see that it is recommended to operate under a “c-corp”. After talking to a CPA they said it would make no sense as I would be double taxed, both on the corporate profit and my personal income from the corporation. Why is it that most real estate books recommend c-corps then for tax breaks on buying and selling houses?
I am looking into the business of flipping houses, so after reading more into it I see that it is recommended to operate under a “c-corp”. After talking to a CPA they said it would make no sense as I would be double taxed, both on the corporate profit and my personal income from the corporation. Why is it that most real estate books recommend c-corps then for tax breaks on buying and selling houses?
My boyfriend and I want to start flipping houses but we both have bad credit, what can we do?
martellatnt asked:
MY BOYFRIEND AND I OWN A HOME REPAIR AND REMODELING BUSINESS. WE WANT TO START FLIPPING HOUSES WHAT CAN WE DO TO GET STARTED AND WE BOTH HAVE BAD CREDIT
MY BOYFRIEND AND I OWN A HOME REPAIR AND REMODELING BUSINESS. WE WANT TO START FLIPPING HOUSES WHAT CAN WE DO TO GET STARTED AND WE BOTH HAVE BAD CREDIT
How do you start a career flipping houses?
gt3571a asked:
I live in the atlanta area and want to start flipping homes. I’d like some advice on how to start. What area to invest in? How much to budget for repairs? How much expected profit?
I live in the atlanta area and want to start flipping homes. I’d like some advice on how to start. What area to invest in? How much to budget for repairs? How much expected profit?
Anyone know how to start flipping houses?
arcticchill_ak asked:
I am very interested in flipping houses, I have the experience and the help in fixing up a house. If anyone knows where to start?
I am very interested in flipping houses, I have the experience and the help in fixing up a house. If anyone knows where to start?
My Fiance and I are starting a buisness in flipping houses. Whats the easist way to get a loan?
keri asked:
We need a loan for 40K to get started. We dont have horrible credit but its not great either and about 30,000 equity in our home. We are currently flipping the house we live in and selling it. We need the loan for the next. I just don’t know where to start.
We need a loan for 40K to get started. We dont have horrible credit but its not great either and about 30,000 equity in our home. We are currently flipping the house we live in and selling it. We need the loan for the next. I just don’t know where to start.