All Forum Posts by: Daniel Klucas

Jack Bobeck, looks like the tax credits isn't available any longer for golf carts. But I'll keep looking, due to the area of the property there may be something. 

Ashish Acharya, the property is in Peachtree City,  GA. As you may know this is a planned community designed with golf cart access everywhere. Carts have to meet code and be registered. Since it will be ordinary and necessary I'll speak with my CPA to discuss 

Robert Soto, I will definitely make sure my liability insurance covers me renting out the golf cart out. 

$$$ That's even better!  I'll check into that. 

Thanks for the info.   

We are in the process of purchasing a rental home in a golf course community and everyone has a golf cart.  So, can I write off the purchase of a golf cart for golf course rental? Advertising the property to include the golf cart, with added cost to the lease, should be attractive tenants. 

Additional information, we are looking to move into this property in the next 18-24 month and make it a primary residence.  We want to put as much cost as possible into the property now as to write it off as expenses before we move in.  

Recently subdivided my property into four separate lots so now I have three lots available to build on (70’x175’, 57’x175’ and 50’x180’) virgin land never been touch before. Properties are on same street 200 yards from a strip of new builds selling (all sold not) for 320K on smaller lots, as well as other recently renovated homes in the neighborhood.

Listed one lot , got some hits but seem as that most people want to buy not build.  Since land sells slow, I’m looking to possible sell these to someone wanting to buy the set and build spec homes, riding off the recent activity around.

What is the process for finding interested parties for something like this? 

How much of a price difference should I expect between selling these retail vs selling the set to an investor/developer/builder?

Any investor/developer/builder in the Atlanta, Georgia area interested in Hapeville (South Atlanta)? Up and coming area experiencing redevelopment of the community with lots of activity going on, renovations and new builds both. 

Compared to some of the recent listings probably 190k to 210k if done right and on the right street 

Yoni, Hapeville has a lot going on right now. Lots of trending businesses opening up here. Big investors/developers putting a lot of money in the area. Plenty of new builds and renovations going on.  I currently reside here now and it's seems to be a great place to buy some low cost rental and get them renovated and rented at a premium or flip them for a nice return.  

Thanks for the advice everyone.  Guess I will try to do a 1031 if possible for as much as I can and reinvest the rest in other projects as well.

Thanks Dave, I was under the assumption that these proceeds would not qualify for 1031 exchange.  I will look deeper into that path.  I appreciate the information.  

Trying to figure out our best choice to tax shelter our forthcoming profits for sells lots we have subdivided from our primary residence.  The mortgage on the house is being refi and the lots will be free and clear.  The proceeds (est.150k) from the sell of these lots will be subject to capital gains tax and we want to minimize that as much as possible.  

We have a 401k and HSA account through an employer, and also an IRA. We do have a rental property with a mortgage (120k) still on it and the mortgage (180k)of our current home.

Trying to figure out best option to protect the money but would also like to use it for future real estate projects.

I recommend Estes heating and air.