All Forum Posts by: Jon Rood

Thanks guys

I am trying to buy a lot that adjoins me, and there is issue with the title. It’s complicated so try to follow me: 1980 property was willed to by partition Feed to family. Multiple heirs. I have all located and have a contract with them. 1996 MAN A sold this property to LLCx With a quit claim deed. 1998 LLC X sold to MAN B with general warranty deed. 2000 MAN B sold to MAN C with general warranty deed. Tax office shows MAN C as current owner. Family says original quit claim deed is fraudulent. So does that invalidate other transactions ? Best way to clear Title ?

Rose...I totally agree with you, and appreciate your input. It seems others have a different view about business and tax than I do. Maybe, they are like Warren Buffett and want to pay more, who knows. congrats on your new business. BTW what type of trucking did you do?

This is after maxing out sec. 179 and bonus depreciation.
New equipment 8.25% sales tax, 1% heavy use tax. 2% excessive diesel use tax.
My equipment fleet worth 2.5mm taxed at 3% year.
Heavy use tax on each truck $4,000.00
Property taxes 3% and on and on
I constantly read this forum and many others to learn as I only have a 10th grade education. I hear how people have figured out how to invest and they dont pay tax. I have a full time CPA in my office as well as a well paid firm who oversees him. They have yet to come up with a way to make alot of money and not pay the taxes stated above. I know I am blessed and I should be thankful for what I have....I am, but, I will NEVER be excited about the gov. using my above said money to be involved in private enterprise. So to be fair with everyone who has posted on this thread, I was just alittle upset about the house because I saw it as another hand out. I should have researched the Habitat method for placing the house, and I really just wanted to know if anyone else had run into this same situation?

J. Scott...I have read many of your post's and I really respect your knowledge, but I do not make up numbers, If you make and try to save a big profit in this country, you will taxed to pay for politicians and dead beats. sorry if I offened you or anyone else. You can check my numbers. they are actual not proforma (lol)

Eric,
If you would read my post, you would see I fully support the Habitat program. The reason I support it is because it is a "hand up, not a hand out" program. Maybe, I should do alittle research on how they wil handle a house we are not building. If they still make them work (i.e. paint,clean, ect.) and pay and affordable mortgage, then I take back my negative comments. I guess my real problem is a gov. that loans money (they printed and devalued mine) to private entity and does not use said money to help people, but instead found another ave. to profit off tax payers. Yes, I know they paid the money back, but if I run my business poorly, do you think they will give me a loan......nope.....what I do get to do is pay an effective tax rate of about 50%-60%. But, Thanks...because of you I will contact the man that runs our local Habitat program and see how they are going to handle it.

how about gov. subsidized?

i thought the same thing, but cant they also write off the loss?

My realtor calls me today on 3 bd. 2 ba. brick repo in my home town for 30k. Market rent would be around 800.00. I was excited and dropped what I was doing to go look at the property, and it was great deal for my area. I make a full offer for the listing price and we get an email back stating the property was no longer available. Here is the good part....Bank of America donated it Habitat for Humanity. First let me say I have no problem with Habitat. My main business is construction and I have donated the sitework on all the builds in our town. What I like about Habitat is the owner has to WORK and make affordable payments = GREAT PROGRAM. How do we compete with a Government Owned Bank that is now giving away houses? Has anyone else heard of this? Why would they do that instead of selling and taking loss?

Not sure how your leases read, but ours actually list the occupants by name. You should be doing this to make enforcement easier. Extra money for extra people is your call, but I think you also risk additional problems just because of more people in close proximity.
Just my .02

Rich,
Is the Ebook out yet?
Jon