All Forum Posts by: Annette A.

thank you @Matthew Kreitzer

non code enforced area... very little codes. Place was built like 7 years ago and is falling off its slab...  we owe $80G, property is worth at least $125 w/o garage-$165G with garage.  Our location the market is bad... everybody is leaving town cause of a mill closing, there isn't  much draw for new buyers... we thought if we tore it down to use elsewhere, create more value. And sell this property at $80G for what we owe??? 

We built a 3 bay garage like 7 years ago... taxes have since gone sky high. we owe only like $80G and the property is valued around $160G?.... we are thinking of selling but the market is not great in our area.  We could probably rent out the house for $850 as is. We have thought about tearing down the garage to rebuild on a pc of land we own outright, to gain more value.  Anybody know if there is any legal issue with tearing something down? as for mortgage company, aren't we only responsible for what is owed? (It wasn't built to any code specimen, we built it. It is off... and is probably unsafe. ... it is a BIG structure 3 bay, 2 story addition...  the garage doors were put on the eve side and is not sitting squarely on the slab, and the sill is starting to pull up on inside wall and lean out off the foundation.  It looks stable at this point but the question is, is there a legal issue with tearing it down?

@Shawn Ackerman you are right. I stepped away. I am headed towards what IS working for me and have recently inc. a wild food plant business that nets in a good income. I have sense locked in some retail sales that will up the profit margin. 

now my plan is focused on this... selling the pc of land i have so i can utilize cash elsewhere. I have had an opportunity fall into my lap to buy an abandoned property that has 10 ac, mobile, apple trees and maple trees ... all the same things... for $20G and there is another pc across from it that i can aquire for a small dwn pymnt and owner finance. that too has apple trees, maple and a stream.. it is more secluded and would work great for the homestead i want.

wild farming and organic farming. I could still do cabins or tiny homes as a side thing, because people are really intrigued with nature, sustainablitly and green lifestyle.  

So i am sticking with what IS working for me. I already have retail sales set up for this spring and wholesales netting upwards to $30G for one month... and there are other seasons that i can also harvest and produce... not to mention the webpage commerce that i plan to set up to sell Maine products of natural organic nature. 

this is where i am at. :D Happily pursueing what "IS" workiNg and downsizing that which is not. I have sold my Fl land to my son; and am now in the process of selling my Sidney land and walkin away with some cash to buy a more productive pc of land, that is also larger and has more value. 

@Louis Kelley yes i agree. thank you

@Leigh Ann Smith that is awesome. i would think there are many reasons somebody would want to rent one of your locations. the land use, the downsizing experiance.... the country life.... and just getting out in nature. it brings peace to the soul. You will be pleasantly surprised i think, the only issue as you say is the low end riffs- maybe you could do a vacation type rental.  you could rec' 700 for one week, and it would not always have neighbors... but you could still make the same cash with less headache. like maybe with alababa is it? But have it set up and ran as a VR so legally you could boot somebody out with less headache if you have to.  

I would like to, maybe someday in the future. I have decided to sell my land that i was goin to do that to. only because i do NOT know how to get the cash to accomplish it and i do have a business that is taking off and i  need to go with it. cause it can make me $60 G in one month. anyway, i am still intrigued with the tiny house homestead idea.. maybe on an offgrid organic farm; to go along with my wild food plant business.  

That is the one thing that is fallin into place. I have inc. and the doors are openin for retail sales this spring.... and with the sale of my land i can purchase a nice pc of land that has product for a REAL good deal. Plus there is a homestead site that i can buy for $20G/ 10 ac with a mobile and loaded with apple trees, plus another peice i can aquire across the road thro and owner finance. I could see possibly doing a tiny rental there. people are intrigued with nature, and getting away from the rat race to find peace from the hub bub of life. And they are interested in sustainable green way of life... there is SO much to do outside. Walk through the woods, go to the stream, garden, watch wildlife.... just relax. 

I think your plan sounds like a good one and that you can work it. best of luck to ya in your venture. 

wow i have missed all these replies. have been busy with wild food plant business.  (It is the one thing that IS working for me) I think we are walking on this project. bummed, but.... it would, of could of been a nice business, but it needed alot of work first. 

thanks @Account Closed i have deff decided to forgo that farm property- or at least that particular one. We have decided we dont want to be strapped with what it would take to get up and running. It needs to much. GREAT property but just not for me. 

but I am still looking for that homestead that will be worth moving out of town for so we can lower our living cost and have more to invest. Right now for our area property tax has gone up, termendously; our insurance has gone up... and our mortgage interest has gone up... now a small house payment of under $600 has gone up to near $1000. for my area of the country that is high. (had a 5 yr arm that is topping out at 5% this year therby increasing our mortgage payment and zapping more funds. 

so project "farm property" is being for gone! Not THIS ONE...but i am looking at a smaller one that would only have maybe a $350 M/ T &I payment... thus freeing up some more money for funding investing ideas. 

so all others... Project 1: plant business is a GO. I am still shooting for the first of the year.

and Project 3 the land development is on the back burner, but is still a direction on the agenda this coming year. 

right now i am focusing on Poject 1, and establishing that. I have four years into that with the fifth one coming. So I am establishing that has my "JOB" my self employed business. And i hope to jump off of that "job" with a development of some kind on my other pc of land.  And a GOAL is to down size our cost so i can increase our savings and investing money.

@Account Closed

I am hoping to use this business as a stepping stone to other projects and developments. As those who have read some of my post know above that i have 3 goals right now on the stove.

#1 the wild plant food business (which shall be established by new year) and then to buy that partial land that has a crop. I have just recently found another chunk of land that may be a good addition. Thats another $15,000. the first pc of land is $25,000. I may go hard money avenue for a few grand knowing i can pay that this year.

#2 the farmland i want for personal living and developing a homestead. I hope to acquire that by late spring, early summer. and then i can develop a nother side of the above business

#3 is my land development that i am hoping i can do a VR tiny home development- with the green theme. That i may go hard money if I cant acquire otherwize, cause i know it will at least sustain itself, even if i just rented them out as a monthly rental- they would make a profit. 

but again Thanks Minh le for helping me to see my business i have. :D 

this week i set up bank account and get my first small secured loan and credit card to get established. There are alot of small things to do to establish a business and get it set up, but its well worth it. 

thanks @Jeff B. thats what it must of been. the local one i talked to on the phone must of been a bookkeeper and not a CPA. that makes sense. :)