Can you buy and sell house for profits?
So, can you buy house, then fix it up, and sell it for a higher price to make profit? Or you have to wait a certain months before you can sell a house.
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July 20th, 2009 at 9:49 am
it can always be done…you just have to find the right seller who is motivated enough to sell you that home at a low enough price so that you can make a profit…
depending on the market conditions it wouldnt really matter which month you decide to sell that house (of course it would be optimal when the weather is good and the house shows well) but the key is to buy in at the right price
July 20th, 2009 at 9:49 am
You can do exactly as you want with the house. If you sell it in such a short period of time and the house is not your primary residence then you will have to pay capital gains tax on any profit you make.
July 20th, 2009 at 9:49 am
It’s legal. People do it for a living. Check your cable guide so you can watch Flip this House to see what they go through. It’s not all that easy and the people on this show are "Professionals".
July 20th, 2009 at 9:49 am
My parents used to do that to every house we lived in, we
moved once a year. For many years…and they made alot of
profit from it. I’m pretty sure, as long as you can pay off that
bank note…they don’t care, cause they’ll be making more $$
on the deal too. Just tell the bank, that is what you want to do..
Flip a house..and make a profit. Banks love that. Good Luck.
July 20th, 2009 at 9:49 am
Certainly. People do it all the time. I knew a family that bought a house every year, renovated it and then sold it for twice what they paid for it.
July 20th, 2009 at 9:49 am
yes you buy a house fix it up sell it for profit people do it all the time its call flip that house
July 20th, 2009 at 9:49 am
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