All Forum Posts by: Lindsey Milam

Thank you everyone!!!

Hi ya'll!

Is there a calculator to determine the final capital gains taxes I would pay on the sale of a replacement 1031 exchange property? I'm struggling to decide if we should sell our STR. Profits average $30K/year.

Original purchase price: $270,000

Bought out business partner with new value at $300,000

Sale price: $414,000

(1031 exchange) New condo purchase price: $675,000

Sale of boat slip and garage attached to condo: $100,000

Sale price of condo: $1M

Thanks!

Lindsey

Thanks again everyone!

One more question please.  Can anyone share an average cost per lot to develop a subdivision?  In my reading, I've seen everything from $20 - 50K per lot cost.  Is there a way to get an accurate estimate from someone in my area?  And by cost per lot, I mean the cost to run utilities, pave roads, curbs, etc.  

Thank you everyone for the excellent input/advice!!  I truly appreciate it! 

Thank you Jay!  I appreciate your input.  I'm also researching the option to just subdivide and sell lots individually, ideally to builders for spec.  It sounds like the development research is going to cost a pretty penny.  I have some cash, so financing wouldn't be a concern, but I hate to toss money into an idea that may not be feasible.  

Anyway, thank you again!!  

Hi everyone! I recently purchased 5 acres with the intent to develop a small, less than 10 lots, residential subdivision.  I am not a licensed real estate agent but have purchased and sold many times over the years and I follow the market closely for trends and pricing.  My question is this:  Where in the world do I begin?  Do I partner with an experienced developer or attempt to handle this alone due to the small nature of the project?  Can a civil engineer handle all the legwork, like permitting, site development and project management?  What are reasonable costs for developing the subdivision assuming the following:  Gulf Coast suburb, flat land with minimal clearing needed, adjacent to subdivision with city water and electricity.  I hope to get some averages, knowing that ya'll don't have all the specifics.  Also hoping to get some opinions on the loftiness of my goal to do this project myself.  Have I lost my middle aged, stay at home mom mind?  Thanks!!!