Mini Horses
Herd Master
Interest rates & general uncertainty of economy as a whole! Rentals? Heck, even that market is a problem with collections being what they are. Tenants need to be checked well before a lease.
Margali's Griffin Wood Ranch
- Thread starter Margali
- Start date
Ridgetop
Herd Master
Yes but buying rentals on a 1031 eliminates the capital gains taxes on the empty lot for now. Later they can be sold one at a time and the capital gains will be less or when one of us dies they can be reassessed and then sold and there will be no capital gains taxes at all.
Taxes are the government's way of destroying initiative. Some people complain about the wealthy who avoid tax with write offs, but thise write offs are there for everyone to use. If they choose not to use them then they can't complain. After all everyone uses the child deduction, the property tax and the sales tax deductions. Those are tax "dodges" the everyone uses and don't complain about.
At least now that we are living in Texas, maybe we can have DS1 do any repairs on our rentals and pay him. He can file a tax return showing income and pay SS. We are also considering paying him an official wage so he can qualify for Medicare and higher SS eventually. He used to do all our repairs on the apartment building in CA. At least, that would keep the expense and outgo in the family. LOL
Taxes are the government's way of destroying initiative. Some people complain about the wealthy who avoid tax with write offs, but thise write offs are there for everyone to use. If they choose not to use them then they can't complain. After all everyone uses the child deduction, the property tax and the sales tax deductions. Those are tax "dodges" the everyone uses and don't complain about.
At least now that we are living in Texas, maybe we can have DS1 do any repairs on our rentals and pay him. He can file a tax return showing income and pay SS. We are also considering paying him an official wage so he can qualify for Medicare and higher SS eventually. He used to do all our repairs on the apartment building in CA. At least, that would keep the expense and outgo in the family. LOL
- Thread starter
- #3,243
Ridgetop
Herd Master
Yes he does. His name is Kris Franks
Kris@krisfranksrealty.com
817-805-2400
He is an excellent manager and real estate broker. He manages all our Texas properties. We also use him for property sales and purchases in Texas. He manages several properties for our sons as well.
Highly recommended. Tell him that Marv and Mary sent you.
Kris@krisfranksrealty.com
817-805-2400
He is an excellent manager and real estate broker. He manages all our Texas properties. We also use him for property sales and purchases in Texas. He manages several properties for our sons as well.
Highly recommended. Tell him that Marv and Mary sent you.
- Thread starter
- #3,245
Margali
Herd Master
Excited that we have several people viewing property this today and tomorrow.
I'm also preapproved for loan and looking at some houses Saturday. I'm ready to move!!!
I'm also preapproved for loan and looking at some houses Saturday. I'm ready to move!!!
Baymule
Herd Master
Wanna hear something funny? My neighbors from Switzerland looked at your place! They said they couldn’t afford it. They were thinking about moving closer to DFW.
I hope your place is just what the people want that are looking at it today and tomorrow and they both want it!
I hope your place is just what the people want that are looking at it today and tomorrow and they both want it!
