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To: ex-Texan

"Bruce, a telecom manager in Los Angeles, walked away from two deals in Port St. Lucie earlier this year. He had flipped half-a-dozen properties from L.A. to Arizona, making from US$75,000 to close to US$200,000 on each."

Lets say he made $125,000 per house on average. For six houses, he made $750,000. Even if he lost his deposit over two (article says $1,000 per house), he is still ahead by more than half a million. Not bad.


5 posted on 05/14/2006 9:59:36 AM PDT by razoroccam (Then in the name of Allah, they will let loose the Germs of War (http://www.booksurge.com))
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To: razoroccam
Lets say he made $125,000 per house on average. For six houses, he made $750,000. Even if he lost his deposit over two (article says $1,000 per house), he is still ahead by more than half a million. Not bad.

Not bad for his pocket. Not much good for anyone else that I can see.

41 posted on 05/14/2006 1:23:16 PM PDT by bkepley
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To: razoroccam

How much of that did he pay in taxes?


50 posted on 05/14/2006 2:40:26 PM PDT by Arizona Carolyn
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