Can someone suggest a company that provides coaching that is worth what you pay for? I’ve read books, researched web sites, and listened to CD courses. I’ve done one deal since November of last year. I’m looking to buy SFH and so far have been disappointed with my progress. I’m looking for someone who can help me do a deal a month and make a good profit. So far I’ve juist been spinning my wheels and getting more and more frustrated.
Thank you.
“Make a good profit”. So, are you planning on selling them right away? If you are, then you’ll be deemed a real estate dealer by the IRS and you’ll have to pay ordinary business federal income taxes of 25-35%, self-employment tax of 15.3%, and also any state income taxes. If you use a realtor to sell the property you’ll pay 6% of the selling price.
The IRS looks favorably upon long-term real estate investing as it helps to provide stability in the market. Conversely, “flipping” and “rehab-and-selling” causes what Alan Greenspan so famously deemed “irrational exhuberance” in the real estate market. Speculators/flippers cause added inflationary pressure, hence the IRS looks unfavorably upon this and levies the much higher taxes, as opposed to the 15% long-term capital gains rate.
Just food for thought.