Posted by Philip on July 18, 2003 at 18:52:24:
nt
Is flipping your favorite? - Posted by Philip
Posted by Philip on July 16, 2003 at 17:11:56:
deal in the Lonnie system, for a first year…because you remain an investor, and don’t get hammered with those taxes on uncollected “resale” money?
I know the yeilds are lower…but…for the first year…?
what do you all think?
Philip
I disagree with one 'n all - Posted by Dr. Craig Whisler CA NV
Posted by Dr. Craig Whisler CA NV on July 18, 2003 at 16:01:00:
Yeilds are HIGHER when flipping. ASTRONOMICALLY higher,
assuming that you can find more deals to flip.
Steve, shame on you, for letting this slip by unnoticed. By the way, what happened to your planned trip down to the land of sunshine. I had half of my friends (both of them) lined up to have dinner with you.
Regards Doc
clear as mud - Posted by Steve-WA
Posted by Steve-WA on July 16, 2003 at 17:51:42:
“deal in the Lonnie system, for a first year”
what? Slow down, I am lost. By the “Lonnie system”, you do get hammered with taxes on uncollected “resale” money.
Yields are lower? I obviously am completely missing to what you are referring.
sackcloth & ashes - Posted by The shameful one
Posted by The shameful one on July 18, 2003 at 17:19:30:
Slip by unnoticed? Nah. Just unclear on what Philip was describing. A nickel today is ALWAYS worth more than the promise of a dime tomorrow. Flips are more financially and fiduciarily fundametally flawless, for filling fat flagons.
That hurt.
Doc, my schedule got ahead of me, and before I knew it, I had failed you. A thousand apologies, please forgive this wayward Lonnie-ite.
let me try again - Posted by Philip
Posted by Philip on July 17, 2003 at 06:19:24:
If all you did was make the loan…like Lonnie explained in “A Quick Flip”, wouldn’t that transaction be taxed installment style, with you as the investor instead of dealer?
You would not have bought and re-sold with the intention of making a profit. You would have just “been the bank”.
The Newly Crowned Guru of Thought Clutter,
Philip
Re: clear as mud - Posted by Tim
Posted by Tim on July 16, 2003 at 18:06:36:
It looks to me like he means for the title to be connected to the first sentence, ie: “Is flipping your favorite deal in the Lonnie…”. I also have to assume he means would it be advantageous to only do cash deals the first year to avoid paying tax on unrealized gains. Then again, I could be completely missing the point.