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To: woodbutcher1963

Doing your own work would be more tax efficient. Your labor provides value in a way which is taxed as a capital gain and not income.


29 posted on 02/26/2014 9:24:12 AM PST by posterchild
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To: posterchild
Doing your own work would be more tax efficient. Your labor provides value in a way which is taxed as a capital gain and not income.

Another important quality in a flipper is not having unrealistic expectations. A tv flipper like Jeff Lewis wants to net a million or more a year, dealing in houses that sell for several millions. A flipper who wants to make a living can be content with several houses in the $150K-250K market and clear $60K to 100K a year, depending on the size of his or her family.

50 posted on 02/26/2014 12:34:12 PM PST by Albion Wilde (The less a man knows, the more certain he is that he knows it all.)
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