usctrojancpa
Well-known member
trematix said:
A home is a place is to live first and foremost so if you like the stairs get them and don't worry about the ROI if you are going to own the home longer term. Don't option the home for your future buyer.
Cetara Orchard Hills The Groves Shea Homes
- Thread starter leect
- Start date
NEW -> Contingent Buyer Assistance Program
A home is a place is to live first and foremost so if you like the stairs get them and don't worry about the ROI if you are going to own the home longer term. Don't option the home for your future buyer.
I agree. If you're going to live in the home for a long time, then choose the option that you will be happy with. My wife loves glass rails, so we're going to do that.
Did you get the Plan2 from the last phase?!
And the tax on that will probably be around $100k between state and federal taxes for a short term gain which is treated as ordinary income unless a 1031 exchange is done.
True but the home will appreciate more so I would have moved in for a few years and waited to sell it once I hit the 2 year market for tax free gains.
That's what I was thinking and it's not like there wasn't any risk. Realtors were making good money doing that in 1989 but got caught when supply overtook demand and ended up getting foreclosed on lots of properties.
Returns doing that same thing are even better in AZ. People buying new builds for 350-400K and selling them for 550K+. Risk is lower there because you can turn around and rent the places and be cash flow positive and lots of people just put rocks in their backyard anyway.
Ticket scalping for those with free money from the fed.
But then you have to make payments, pay property taxes, put in window coverings and landscaping. What if he has another house? This frees up money in the here and now. Bird in hand.
According to poster, (s)he hasn't even got the home yet, so I don't know how that's working. I think it was just last month that poster said (s)he was still getting calls and thinking about selling the spot for some profit.
He said he wasn't buying though since he thought a 4k sq ft house was too small. ;D
So he said he would sell his spot to anyone interested in buying there.
A home is a place is to live first and foremost so if you like the stairs get them and don't worry about the ROI if you are going to own the home longer term. Don't option the home for your future buyer.
CalBears96
Well-known member
USCTrojanCPA said:
I agree. If you're going to live in the home for a long time, then choose the option that you will be happy with. My wife loves glass rails, so we're going to do that.
scubasteve
Active member
trematix said:
Did you get the Plan2 from the last phase?!
scubasteve
Active member
Awesome!
Get the stairs and enjoy it. It will seem cheap later given where inflation is heading!
Get the stairs and enjoy it. It will seem cheap later given where inflation is heading!
trematix said:
Beach2Hiddencanyonres
New member
I made 250k off my spot FYI.
usctrojancpa
Well-known member
akkord said:
And the tax on that will probably be around $100k between state and federal taxes for a short term gain which is treated as ordinary income unless a 1031 exchange is done.
usctrojancpa
Well-known member
misme said:
True but the home will appreciate more so I would have moved in for a few years and waited to sell it once I hit the 2 year market for tax free gains.
Ready2Downsize
Well-known member
misme said:
That's what I was thinking and it's not like there wasn't any risk. Realtors were making good money doing that in 1989 but got caught when supply overtook demand and ended up getting foreclosed on lots of properties.
Returns doing that same thing are even better in AZ. People buying new builds for 350-400K and selling them for 550K+. Risk is lower there because you can turn around and rent the places and be cash flow positive and lots of people just put rocks in their backyard anyway.
Ticket scalping for those with free money from the fed.
Ready2Downsize
Well-known member
USCTrojanCPA said:
But then you have to make payments, pay property taxes, put in window coverings and landscaping. What if he has another house? This frees up money in the here and now. Bird in hand.
CalBears96
Well-known member
akkord said:
According to poster, (s)he hasn't even got the home yet, so I don't know how that's working. I think it was just last month that poster said (s)he was still getting calls and thinking about selling the spot for some profit.
TestingIrvine
Active member
It just means his purchase price appreciated $250K versus the current price point?don?t read too much into it.
CalBears96
Well-known member
TestingIrvine said:
He said he wasn't buying though since he thought a 4k sq ft house was too small. ;D
So he said he would sell his spot to anyone interested in buying there.