Posted by BillW. on December 08, 2000 at 06:21:10:
David, Either route can make you a lot of money. What you do should depend on your experience and temprament. What I might suggest is to learn to use other people’s money to do your deals. There is a tendency by some people to try to buy their way through deals and that sometimes leads them to make deals that are not realistic and have too thin a margin of profit. As to taxes, they are a part of life. Male sure your deals have enough room in them to pay what will be owed.
Good luck…BillW.
I have sold some inheritence property for $170,000 . I have looked into buying a lot and building a modest 3 bedroom home and selling it . I feel that i have a chance of a lifetime with this much cash. What would you do , buy fixer’s ? or build and sell . I’am worried about taxes when I sell a new home unless i’am in it for two years.I’am in the Pacific Northwest (seattle) Thanks Dave