All Forum Posts by: Dustin T

I should say as well... from an ROI stand point. I had this in mind of recreational land.

buying 20 acre lots, building small, inexpensive cables in the sub $5000 range and either:

a. renting them out all year
b. selling subdivided lots with cabins on them.

one of the areas i'm looking at butts right up to public hunting land that is filled with litterally thousands of hunters every year... so i think it's marketable.

that is exactly what I mean :)

One thing I've considered is buying a 20acre parcel and building a little bit every year. I'm only 23, so I figured if I had it paid off within 15 years, and my cabin/house was complete or near complete, then I'd have an excellent vacation home paid off.

Truthfully, I just want to invest into solid assets. Paper is great, but land is forever :)

i think we can probably wait that long, we shall see...

we are really close, it's somewhat comical actually. we've owned it for about 25 months, and rented it out for about 6 months right smack in the dab. lived in the the rest of the time.

thanks for the feedback folks.

should i expect to pay an hourly fee for their time? what is it typically?

we are onlyjust now entering the market, so that house hasn't sold yet, thats a prospective number, i want to know exactly what to expect when selling and purchasing the next place so there are no ugly surprises.

I'm somewhat familiar with the 1031 program. But doesn't it require that I reinvest all the funds from the sale of the first investment into the purchase of the next?

the house i'm selling is a primary residence. does this give any bearing to the capital gains law? I'm not totally familiar with how it works.

guess i could have provided more info in the first post...sorry :goofy:

Dustin

Purchase Price = $126,500
Sell Price = $185,000

Don't think it matters for this, but Debt currently on it = $126,700 (purchased with 103% loan).

Owned for 25 months
I was told an Excise tax in the area of $3500.

Can I use half the cash from this sale as a down payment on the next place and pocket the rest? If I do, how does this change taxes paid..if at all?

thanks,

very interesting, thank you for the new tools!

i'm going to go crunch some number now...

I have no experience with commercial properties, but from observation i can say... small companies tend to stay in their units much longer than a renter would.

of course there is the exceptional few 'dream renters' who take good care of your house and stay for years upon years, but for the most part I believe you will see 5, 10, maybe even more come through a residential rental in the time that you would see 1-2 through a commercial rental.

I can name a number of small shops in my town that have been renting the exact same units for 20+ years. my company has been in our unit for 4 years now.

I've had my eyes on a building for 2 years now. the owner made mention of a price around $1.5M. it's currently monthly rent income is around $12K/month. all tenants but one have been there for at least 12 months are looking good. however, i think the building is over priced.

How do I get figure an accurate appraisal of this building? Also, what some of the recommened forms of financing for a purchase such as this? I'm still in an exploratory stage, but our company is doing quite well, and would be one of the tennants. so i'd like to make these types of investments early on if at all possible.

thanks,
Dustin