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All Forum Posts by: Taylor Knott

Taylor Knott has started 8 posts and replied 32 times.

Post: Is a live-in 2-year flip really a thing?

Taylor KnottPosted
  • Blue Lake, CA
  • Posts 33
  • Votes 4
Originally posted by @Chris Mercer:

Update to my post from a few days ago:  I found a great article on fix-and-flip taxes and how those taxes behave in various scenarios, including 2 year live-in projects.  Basically, all costs and expenses are rolled up at the time of sale and, if done correctly (2 years out of 5 years as primary residence), then the gains are not taxable and all of the associated expenses are deductible.  Pretty good scenario for the patient investor!

https://fitsmallbusiness.com/taxes-on-flipping-houses/

I appreciate you finding this article. My fiancé and I are moving from Humboldt County in Northern California back home to Napa County, CA. Cost of homes is insane. We are about to get into a fixer and rehab over 2 years. This article is going to better explain what we are getting into for my fiance. Thank you! 

Post: Anyone in Far northern California?

Taylor KnottPosted
  • Blue Lake, CA
  • Posts 33
  • Votes 4

Awesome thanks Dan for the recommendation. I'll have to check them out. 

Post: Anyone in Far northern California?

Taylor KnottPosted
  • Blue Lake, CA
  • Posts 33
  • Votes 4

Happy Friday! Does anyone have recommendations for Construction companies or GCs. I want to start reaching out to see cost/sqft or likely cost for converting a garage.

Post: Redding CA -Shasta County Meetup

Taylor KnottPosted
  • Blue Lake, CA
  • Posts 33
  • Votes 4

Good morning. I live out on the coast in Humboldt County. I wish I could make it to some of your meetups and keep expanding my network. I'm getting interested in making additional units out of decent sized garages and finding vacant lots to build a spec house with an attached ADU. I'm interested in making connections with developers and GC out in your area because cost of building out here is higher.

-Taylor

Post: Anyone in Far northern California?

Taylor KnottPosted
  • Blue Lake, CA
  • Posts 33
  • Votes 4

Dan and Kyle and I were talking briefly last night about property or lots with timber on it to harvest. In CA you can only do a one time 3 acre conversion of land zoned as Timber Production Zone. So in other words you can't cut all the trees and subdivide and develop the land. However you can harvest trees on your property. Cutting some and thinning them out. If y'all ever have a property that has timber on it let me know because me and the Forester that I work for can help guide you to necessary resources and do a timber appraisal

Post: Anyone in Far northern California?

Taylor KnottPosted
  • Blue Lake, CA
  • Posts 33
  • Votes 4

Sounds great you will see me there! It will be great to see and talk to you all.

Post: Anyone in Far northern California?

Taylor KnottPosted
  • Blue Lake, CA
  • Posts 33
  • Votes 4

Good morning everyone. I am bummed I've missed out on the past meet ups. Life has been pretty hectic through the holidays until now. Planning a wedding, studying for a professional license, deciding if we were going to move or not after getting married. But anywho I'm all settled down and sorted out much more. Honestly if ya'll haven't read the One Thing I highly recommend it. Really helping me get on track. I hope to connect and meet up soon at the next gathering.  

Post: Anyone in Far northern California?

Taylor KnottPosted
  • Blue Lake, CA
  • Posts 33
  • Votes 4

I loved meeting you all and Dan thank you for organizing this all it's fantastic. I've been feeling for a long time I need to add people in my circle and around me that want to work to build something for themselves. I second everything said above about future meetings. I think it would be useful to look at example deals to run numbers to see how everyone thinks. I also like the idea of topics. At least for me top of my mind is valuation/running comps and pursuing off market deals. It would be great to have back and forth on topics other than just in my head. 

As for meeting spots I might have one for future use. I live out in Korbel behind Blue Lake in company housing for GreenDiamond. We've got a couple buildings we could use for sure as long as I give someone a heads up. Definitely out of the way for most but that option is there for the future. 

Post: Anyone in Far northern California?

Taylor KnottPosted
  • Blue Lake, CA
  • Posts 33
  • Votes 4

Thank you I will make this one. Working in the woods it's impossible to tell when I'll get off. But I'll be there tonight.

Post: Code violations good?

Taylor KnottPosted
  • Blue Lake, CA
  • Posts 33
  • Votes 4
@Mark N.A:

I have the same sentiments. I've been on the hunt for my 1st rental property. I made an offer on a house built in the early 1900s. The second unit which was previously a garage never got permitted. Ceiling height was too low and electric/plumbing was never inspected before it was concealed. The city is really friendly to investors to fix these problems because we have a severe housing shortage. Listing agent guessed at $5K for permits and repairs. But a co worker who has a construction background said it would likely cost much more. On top of that the house had a bunch of deferred maintenance likely 40-50K. So I walked away because they weren't motivated to work with me. That place would be more useful bulldozed or at a severe discount.