Newbie In Western NY
I know from my experience with a recent flip that there is a more red tape involved here than in other states such as FL. Is wholesaling worth while in Western NY? On a side note, what are some of the best ways to find houses in need of repair? I would rather find the fixerupper, do the fixing and sell it. My biggest problem is the capital gains tax. Is there any way around that tax? I plan on setting up a DBA and gettting more aggessive with my investing. Is there any good literature specific to NY that could guide me in the right direction for purchasing these fixeruppers?
I would talk to a CPA on your capital gains question, you should be able to use a self-directed IRA or a 1031 exchange.
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