Does anyone here flip houses?

[CurlyDave]

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]

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]

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]

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]

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

Thanks,

BR

 

[BamaRob]

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

Thanks,

BR

 

[RayH]

</font><font color="blue" class="small">( 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. )</font>

$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]

</font><font color="blue" class="small">( 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. )</font>

$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]

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]

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.