OK,
so there are all these flipping shows now.
Buy a property for 500,000
Put in 50,000
sell for 900,000 in 4 months.
and they say the person made a 350,000 profit.
but that is not reall true? right?
don't they have to pay big taxes. because they did not hold on to the house for 2 years?
dont they have to pay for sales tax?
anyone know in this scenario what else would be paid out?
thanks