All Forum Posts by: Donald Hendricks

I purchased my home & land in December 2014.  Since that time my neighbor sold his land and the new owner and I have been fueding.  The new neighbor wants to buy me out.  I have agreed to sell, but not until December, so that I do not have to pay capital gains tax (2 of 5 year rule).  Neighbor says that he will pay the capital gains tax and wants to close in 30 days.

Is this permissable?  How should this be structured?  Is this going to come back and bite me in the butt as a "gift"?  

Long story short, my neighbor sold his 120 acres of vacant land to a jerk. The jerk and I have been fueding since nearly day 1.   Jerk has been wanting to buy my land & house.  I have been telling him to bring me an offer that would motivate me.  I also told him that I would not pay RE commisions.   Today, I get an offer through my agent thwt I bought the place through for $60k over appraised value.

So...  I might be a little motivated with his offer, but still unsure.  Two issues:

1) what is my obligation to pay commisions now that he has involved 2 RE agents?

2) how can I structure the sale to avoid Cap Gains tax.  I have not owned the place for 2 years yet.  2 years will be up in December of this year.

hey thanks for sharing so everyone can learn

What....?   Say it aint so.

It is hard to believe that no one from Lifestyles Unlimited has come to defend their brand yet.   

What?  You don't like circa 1981 stenciling and nicotine white? 

Perhaps this new color palette will be more pleasing to your eye. 

The head banger (arch)  has been removed.  To the right is the commode and shower, to the left is a walkin closet.   So basically it sits in the bedroom.

I failed to mention that it is a 60" hole with a 60" vanity currently in place.  A 24" vanity would look odd in the hole. 

I have looked at Box stores and I am not loving the particle board with stickers applied crap they are peddling.  :-(

Of all the problems that I could be having on the rehab of a house for a buy & hold, I find myself stewing over the cost of a bathroom vanity.  Not only the price, but the stupid games that are played, e.g. Base cabinet only; cabinet & top, but no sink or faucet; everything but the faucet....  All in it is $700-1000+.

Pethaps, I am a little hard headed, but I want to offer the best product at the best price to my tenants and the 1979 vanity in the master is not meeting my standard. will replacing it get me more $$?  Little if any.  I have looked at the 3 rentals currently available in the neighborhood, and frankly, they are very basic.  I want to raise the bar.  Nothing extreme, just offer a product that people will be proud to call home, with the hope that they will stay a little longer.

Anyone know a source for reasonablly priced bathroom vanities in the Houston area or online?

I had a deal come to me a few months back and then it fell thru because of title issues.   Got a call yesterday saying all title is clear and we can close today.  Caught a little off guard I said how about Friday.   Friday it is.  Now I am a bit behind in my planning and need to start herding my cats all in one direction.

I need a roofing contractor 

 -AND-

I need a general contractor or an excellent all around handyman. 

This house was built inthe 80's and have had the original owners in it since.   It needs updating, but nothing serious.   Not moving walls, or tearing out baths etc.

Any recommendations for Spring Texas are greatly appreciated.