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Old 11-13-2009, 12:11 PM
 
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I could very easily sink $50K into a house in two weeks. That ain't the hard part.

Getting someone else to give my $100K in any reasonable length of time afterwards, ah, now THERE'S the trick!
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Old 11-13-2009, 08:25 PM
 
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Originally Posted by DMenscha View Post
With a weak dollar it wouldn't surprise me at all. What would surprise me is that anyone could put two weeks of work into a property and double it's value.

As for the capital gain, if a person spends $100K to purchase the property and spends $50K in materials then the capital gain is going to be $50K which is then the taxable amount.
Its just an example(two weeks).Maybe it will take two months.Who knows.That wasnt the purpose of my question.
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Old 11-13-2009, 08:27 PM
 
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Originally Posted by Beena View Post
You came to America to flip houses? Hold on, I am gonna need a minute here.
Everybody have a story.
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