Posted by Elizabeth NJ on April 17, 2006 at 11:15:57:
You’re right – hope the newbies read your comment.
FLIPPING PROPERTIES… - Posted by CT
Posted by CT on April 12, 2006 at 12:31:45:
I need to raise capital toward my RE investing and i hear J. P. Vaughan say all the time that new investors should flip properties first before getting in way over their heads in RE investing.
I am new to this and want to know has anybody been successful in flipping properties, and if so… i need to know how it’s done step by step or point me to the resources that will give me a thorough understanding as to how flipping properties are done legally…
thanks in advance,
Re: FLIPPING PROPERTIES… - Posted by Elizabeth NJ
Posted by Elizabeth NJ on April 13, 2006 at 22:38:19:
Excellent advice - I couldn’t agree more. I tell everyone getting into this business, do at least 3 flips before holding property for several reasons: (1) You get extensive experience and knowledge in those first few deals, and (2) you make money to you can use when you start buying and holding.
Good luck.
Re: FLIPPING PROPERTIES… - Posted by dutch
Posted by dutch on April 12, 2006 at 15:45:11:
Get Bronchick’s course on flipping, best $300 you’ll spend. Yes, it is profitable. legalwiz.com
Dutch
OKHomesavers
Be Aware however. - Posted by Innovator
Posted by Innovator on April 16, 2006 at 23:27:11:
It is good advice, but be aware that you will be taxed as ordinary income on your profits unless you hold for 12 months. There is nothing wrong with that (well there is, it’s a screw job by the Government, but you’ll have to live with it), I’m just suggesting that you set aside some of your profits for tax time.
Re: FLIPPING PROPERTIES - Posted by Jeanne
Posted by Jeanne on April 12, 2006 at 15:59:51:
In fact, we sell all of William Bronchick’s corses, including “Flipping Properties” right here on CRE Online. In fact, that’s how we can provide this FREE forum for you.
http://www.creonline.com/catalog/bronchick.html
Jeanne