Does anyone here flip houses?

CurlyDave · Jun 7, 2006

Up to $25 of passive losses can be deducted if your AGI is $100k or less.

At $100k plus the maximum loss is reduced by $1 for every $2 of AGI over $100k. At an AGI of $150k+ you may not deduct any passive loss. For instance, with an AGI of $130k you may take up to $10k of passive loss. Losses in excess of this must be carried forward.

The other torment the IRS will present you with is that you must depreciate investment property.

CurlyDave · Jun 7, 2006

Up to $25 of passive losses can be deducted if your AGI is $100k or less.

At $100k plus the maximum loss is reduced by $1 for every $2 of AGI over $100k. At an AGI of $150k+ you may not deduct any passive loss. For instance, with an AGI of $130k you may take up to $10k of passive loss. Losses in excess of this must be carried forward.

The other torment the IRS will present you with is that you must depreciate investment property.

h2onut · Jun 7, 2006

You only want to make $30,000 a year? I will make that my first year marketing never using my own money or risking anything. Already at $27,000 and the year is not up. You say you are not good at marketing but if you worked it 5 times harder than I do you would still only work 35 hrs a week. I only put in on average 7 hrs a week because I own a couple of businesses that keep me busy 60 hrs a week. It is a nice addition to my income but will do it full time as it grows.

h2onut · Jun 7, 2006

You only want to make $30,000 a year? I will make that my first year marketing never using my own money or risking anything. Already at $27,000 and the year is not up. You say you are not good at marketing but if you worked it 5 times harder than I do you would still only work 35 hrs a week. I only put in on average 7 hrs a week because I own a couple of businesses that keep me busy 60 hrs a week. It is a nice addition to my income but will do it full time as it grows.

BamaRob · Jun 7, 2006

OK. I'll bite. How can I start making $2500 a month working only 7 hours per week?

Thanks,

BR

BamaRob · Jun 7, 2006

OK. I'll bite. How can I start making $2500 a month working only 7 hours per week?

Thanks,

BR

RayH · Jun 7, 2006

( You only want to make $30,000 a year? I will make that my first year marketing never using my own money or risking anything. Already at $27,000 and the year is not up. You say you are not good at marketing but if you worked it 5 times harder than I do you would still only work 35 hrs a week. I only put in on average 7 hrs a week because I own a couple of businesses that keep me busy 60 hrs a week. It is a nice addition to my income but will do it full time as it grows. )

$30000/yr equates to about $45000 before taxes. yes I would be happy with $30000 pocket money. Thats about what I made at the 40-50 hr/wk job that I just quit last month. Yes I would like to make more, and some day hope to, but thats the minimum amount it would take for me to flip full time and give up all other income.
If I worked five times harder than you at marketing, I would just hate it five times more. It may be lucrative and safe and I congratulate you on your success, but its not for me. I could possibly make good money as a manwhore as well, but its not for me. doctors and lawyers all make good money, but its not for me. There are alot of money making options in the world but each person needs to pick the one they like if they are going to be happy.

RayH · Jun 7, 2006

( You only want to make $30,000 a year? I will make that my first year marketing never using my own money or risking anything. Already at $27,000 and the year is not up. You say you are not good at marketing but if you worked it 5 times harder than I do you would still only work 35 hrs a week. I only put in on average 7 hrs a week because I own a couple of businesses that keep me busy 60 hrs a week. It is a nice addition to my income but will do it full time as it grows. )

$30000/yr equates to about $45000 before taxes. yes I would be happy with $30000 pocket money. Thats about what I made at the 40-50 hr/wk job that I just quit last month. Yes I would like to make more, and some day hope to, but thats the minimum amount it would take for me to flip full time and give up all other income.
If I worked five times harder than you at marketing, I would just hate it five times more. It may be lucrative and safe and I congratulate you on your success, but its not for me. I could possibly make good money as a manwhore as well, but its not for me. doctors and lawyers all make good money, but its not for me. There are alot of money making options in the world but each person needs to pick the one they like if they are going to be happy.

RayH · Jun 7, 2006

h2onut, Wait, before I dismiss network marketing, can you tell us exactly what it is? I could possibly do something I dont like for $140/hr.

RayH · Jun 7, 2006

h2onut, Wait, before I dismiss network marketing, can you tell us exactly what it is? I could possibly do something I dont like for $140/hr.

BamaRob · Jun 7, 2006

( I could possibly do something I dont like for $140/hr.)

/forums/images/graemlins/laugh.gif That's kind of what I was thinking...

BR

BamaRob · Jun 7, 2006

( I could possibly do something I dont like for $140/hr.)

/forums/images/graemlins/laugh.gif That's kind of what I was thinking...

BR

RayH · Jun 7, 2006

(

That's kind of what I was thinking...

BR )

Maybe I am a manwhore.

RayH · Jun 7, 2006

(

That's kind of what I was thinking...

BR )

Maybe I am a manwhore.

dooleysm · Jun 7, 2006

For $140/hour I guess I'd be about anything.

dooleysm · Jun 7, 2006

For $140/hour I guess I'd be about anything.

h2onut · Jun 7, 2006

No ofcourse network marketing is not for everyone. There are so many MLM scams out there it is rediculous and I am sure a few people make money at it, I have just never met any. What I do on the side is called Melaleuca I don't sell anything I just refer people to Melaleuca. I didn't invest anything and am only required to be a customer of which I will be for the rest of my life if they never send me another check. These products literally saved my wifes life. Over the last 10 or 11 months I have simply shared Melaleuca with about 45 people 37 of which decided to save some money and try the products and have remained customers. I earn a 7% commission every time they shop. Most of them will simply remain customers because they enjoy quality and may never see a check but some of them have done what people do naturally when they find something they like, they tell others. Because of this I have another 185 customers that I see 7% commission every month. The residual part of my income is a little over $1,000 a month the rest is bonuses.

h2onut · Jun 7, 2006

No ofcourse network marketing is not for everyone. There are so many MLM scams out there it is rediculous and I am sure a few people make money at it, I have just never met any. What I do on the side is called Melaleuca I don't sell anything I just refer people to Melaleuca. I didn't invest anything and am only required to be a customer of which I will be for the rest of my life if they never send me another check. These products literally saved my wifes life. Over the last 10 or 11 months I have simply shared Melaleuca with about 45 people 37 of which decided to save some money and try the products and have remained customers. I earn a 7% commission every time they shop. Most of them will simply remain customers because they enjoy quality and may never see a check but some of them have done what people do naturally when they find something they like, they tell others. Because of this I have another 185 customers that I see 7% commission every month. The residual part of my income is a little over $1,000 a month the rest is bonuses.

BamaRob · Jun 7, 2006

Ah... Melaleuca... I'm familiar with that one, too. Actually tried some product a couple years ago. Didn't care much for the stuff. Everything smelled something like citronella oil. Very strong odor.

You make a good pitch, though. I like the way you slip that "fact" in there about how it "literally" saved a loved one's life. I'm glad she's better.

You, sir, are a marketing genius!

BamaRob · Jun 7, 2006

Ah... Melaleuca... I'm familiar with that one, too. Actually tried some product a couple years ago. Didn't care much for the stuff. Everything smelled something like citronella oil. Very strong odor.

You make a good pitch, though. I like the way you slip that "fact" in there about how it "literally" saved a loved one's life. I'm glad she's better.

You, sir, are a marketing genius!