Determining Profits On Foreclosures
I am looking at buying foreclosures to fix & sell. Are there any guidelines as far as determining how much to pay and what I can expect to make when I sell? Is there any way of buying one in addition to my primary residence & then selling in less than two years & avoiding capital gains tax?
Guidelines: buy low sell high. Sell ASAP, preferably under 2 months, not 2 years. 2 years holding costs will hurt way more than a capital gains tax. Remember, a fast nickel is better than a slow dime.