Before flipping that house, study your tax consequences
It’s not unusual to imagine that flipping houses would be fun. You might start by thinking that this could be the way to easy profits. It’s an exciting venture, without a doubt, and one that, if done correctly, can bring you the kind of return on investment that you have been seeking. But buying a house, renovating it quickly, and then selling it again isn’t as seamless as HGTV’s “Flip or Flop” and “Fixer Upper” make it look, and it’s important that you be prepared for the never-televised wonkier side of property investing. Which brings me today to an always-dreaded subject: taxes.
Gap Slims Between Low- and High-Income Homeownership Rate