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All Forum Posts by: Adam Anderson

Adam Anderson has started 18 posts and replied 151 times.

Post: calculating square footage

Adam AndersonPosted
  • General Contractor
  • Midland, TX
  • Posts 160
  • Votes 24

You include all climate controlled space, including closets and halls. You wouldn't include garages. I believe you also exclude any areas with ceiling height less than 5 feet.

Look here for more info.
http://homebuying.about.com/od/realestatecareers/ss/square_footage.htm

Post: Hello

Adam AndersonPosted
  • General Contractor
  • Midland, TX
  • Posts 160
  • Votes 24

Welcome to the site

Post: New to site and RE investing

Adam AndersonPosted
  • General Contractor
  • Midland, TX
  • Posts 160
  • Votes 24

Welcome. There is a lot of great information to be had here.

Post: new member

Adam AndersonPosted
  • General Contractor
  • Midland, TX
  • Posts 160
  • Votes 24

Welcome. There is a lot of great information to be had here.

Post: New Member

Adam AndersonPosted
  • General Contractor
  • Midland, TX
  • Posts 160
  • Votes 24

I have worked most of my life in residential construction. For 5 years I lived near Panama City Beach Florida building homes.

I decided to switch to commercial construction and am currently seeking a degree in construction management at Brigham Young University-Idaho. I am living in Augusta Georgia right now doing an internship with Balfour Beatty Construction working on a $68 million hospital reconstruction and addition. I will be graduating in August of 08.

I own a duplex in Rexburg Idaho where I am going to school that we bought for $150,000. We are doing approximately $5,000 in cosmetic upgrades, and plan on selling for around $200,000 when I graduate.

I don't know where I will be living after I graduate, but will probably be moving every few years anyways.

Post: Grammar

Adam AndersonPosted
  • General Contractor
  • Midland, TX
  • Posts 160
  • Votes 24

Google toolbar has a spellcheck.

Post: Mobile home tax question

Adam AndersonPosted
  • General Contractor
  • Midland, TX
  • Posts 160
  • Votes 24

You are right it wouldn't be worth it for only a few thousand in profit.

Post: Mobile home tax question

Adam AndersonPosted
  • General Contractor
  • Midland, TX
  • Posts 160
  • Votes 24

Am I correct in my understanding that Mobil homes are not considered real-estate so they wouldn't be subject to capital gains? If I buy a mobile home for $1000 and sell it to someone for $3000 with financing, would I be taxed at my normal income tax rate for the profit of $2,000 and the interest I collect?

Is there anyway to defer the taxes like you can with real-estate with 1031 exchanges?

Post: what is the best ways to estimate repairs

Adam AndersonPosted
  • General Contractor
  • Midland, TX
  • Posts 160
  • Votes 24

If you are doing the work yourself and you have never done it before take what you think it will cost and triple it.

Post: problem with tenants next door

Adam AndersonPosted
  • General Contractor
  • Midland, TX
  • Posts 160
  • Votes 24
Originally posted by "ofgift":

I had reported the tenant to that agency, and then when the tenant saw me see him throwing MORE stuff over, HE reported me to the police!
ofgift

When he saw you see him throwing more stuff over he reported you to the police? For what? Maybe in your letter to the landlord you should mention holding him responsible for the cost of removal of the trash if he doesn’t take care of the problem