All Forum Posts by: Bart Libsock

Well it's getting exciting, or scary now, just got done drilling two new wells for two lots that did not have wells, and unloaded big big road building equipment yesterday to build new road into our 4 lot subdivision. Hopefully a lot sells right away to pay off most of the bank borrowed money. Is there any way to not write the IRS a huge check from the sale of these lots. My CPA likes to sometimes play it too safe. Maybe there are legal loopholes that one can exploit,without ending up in the pokey.

Thanks for the replies everyone, I read that you must draw income from the USVI in order to 1031, short of moving there and obtaining a w2 job, how to get around this wrinkle.

Hey Christos

We were thinking St. Croix because there is talk of a communications hub being developed on the island, bringing in all kinds of jobs and opportunities, Is St.Croix still a D class.

Hey everyone,

Are there employment opportunities on the northwest or southwest coast as you can own all kinds of rentals but if no one has a job how is the rent paid. Is the economy moving in the right direction. 

Hey Raphael, you will be amazed at what you can learn here on this site.  As far as specifically to puerto rico, I don't know, doesnt seem to be much interest in the island. My wife went there for two weeks for a confrenece and cant get it out of her head that she wants to move there.  I have been looking for tri's or quad's or even an apartment building, on the west coast. But having never been there dont really know what to look for. With the new tax acts 20, 22 and 273 it seems like a guy might just prosper given the right circumstances.  

From the outside seems like a pretty good deal. I have been driving by parks that easily are twice that price and alot of them are in pretty dicey areas, i.e. no jobs, drugs, cars on blocks etc etc. How much cleaning up is there to do. Is it regestered with the state as a mobile home park. Is water, sewer, and electricity metered seperatley. Seems like at that price almost any problems aren't insurmountable. If you pass on the deal I would be interested in looking at it.

have been eyeballing properties in puerto rico and the usvi, wife says she has had it with the long cold winters anyone own investments down there

rewiring and old house is a pain i'm assuming its plaster and lathe. probably most of the 15k was for labor just to get to the wires, if a guy could trace  where the wires are routed maybe you could get a couple high school or college kids to sawzall out just enough channels so the sparky could refeed wires then cover the whole thing with rock, sometimes it works sometimes it doesnt. a 100 amp service is not alot for three units. 

Absolutley Dave , just walked in door after wading thru the snow on my snoshoes and dreams of palm trees and warm ocean breezes somehow came wafting thru the house.

Thank you for the welcome Mark and Mindy, will for sure read John Fedro's stuff.

Hello BP

I'm new to posting anything anywhere but this site is so cool I just have to try to jump in. I have been in the construction industry all my life and would be more than willing to try to answer any questions structure related. Right now I'm working on developing a 4 lot subdivision north of Columbus, Mt. Am interested in taking whatever profits gained from this endeavor and purchasing a mobile home park. And learning anything I can about REI in general, this real estate thing is exciting.