First deal help - new construction flip - Posted by Michael

Real Estate Investing
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Posted by David B on October 08, 2003 at 15:35:37:

I don’t think you’ll get the $250K tax free money. You’ll have to pay tax on the gain as ordinary income, I believe, which can be significant or not depending on how much earned income you report on your tax return.

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First deal help - new construction flip - Posted by Michael

Posted by Michael on October 07, 2003 at 19:32:53:

I am currently about to do my first deal:

Please help. I purchased a new construction 8 months ago. I have a buyer that wants to purchase it and I will make a good profit. How can I do this (considering the “2 year rule” of occupancy). I am supposed to close in 2 months.

Please help.