All Forum Posts by: Al Brennan
Al Brennan has started 5 posts and replied 17 times.
Post: Purchase wooded lot and new build.
- Flipper
- Matthews, NC
- Posts 17
- Votes 0
Originally posted by @J Scott:
I would find a good local engineering company who can do a survey and a basic engineering analysis. Let them know that you just want to verify that the lot is buildable and that there are no major zoning or engineering impediments.
Many thanks for the quick reply.
Do I search for a structural engineering company?
Post: Purchase wooded lot and new build.
- Flipper
- Matthews, NC
- Posts 17
- Votes 0
Go easy on me...I`m new both to the USA and real estate here :).
I`m in the Charlotte area.
I`ve found a one acre wooded lot which I approached the owner to see if he would sell to me with the intention of building a house on it and he said he would sell to me.
I used the Zillow estimate for the lot ( $60k ) and he said that was acceptable. The price seems to be in step with similar lots in the area.
Clearing and grading should cost about $10k ( so I`ve been told ).
I called into the zoning and planning depts. in Charlotte to see if there were any obstacles/restrictions to me building there and they said that it looks all clear to go ahead.
What should my next step be?....get a land survey? ...get a construction survey?....approach a builder first?
I just need to make sure I can build on it before I purchase it.
Any advice is greatly appreciated,
Thanks in advance.
Post: Can't find owner of abandoned property
- Flipper
- Matthews, NC
- Posts 17
- Votes 0
Search the address in Zillow and scroll down to the `county website`.
Post: Tax on new build sale?
- Flipper
- Matthews, NC
- Posts 17
- Votes 0
Thank you Daria...much appreciated. Do you know how capital gains tax might be calculated?
Originally posted by @Don Harris:
@Al Brennan welcome to Matthews NC and BP. I would encourage you to network in Charlotte to meet other like minded investors. The largest REIA has its monthly meeting this upcoming Thursday, details at metrolinaReia.org.
Best, Don
Thank you Don,
I`ll take your advice and go along to that meeting.
Al.
Post: Tax on new build sale?
- Flipper
- Matthews, NC
- Posts 17
- Votes 0
Hi all,
I just joined and hope I am posting in the correct forum.
I plan on buying a one acre lot near where I live to build a house on and then to sell it when it`s completed. My question is will I be taxed heavily on this? I`ve heard some say that I have to live in it for a year otherwise I`ll be taxed at a higher than normal rate.
My goal is to build and sell and repeat until I`m a squillionaire :)
I just moved here from Ireland and am a complete beginner to real estate and tax law here.
Hi folks,
My name is Al Brennan I just moved from Ireland to the US (Charlotte N.C. ) in March 2014, got married and live here permanently now.
I have no experience with real estate here especially tax law relating to property so any help will be very much appreciated.
My initial goal is to buy a lot nearby (1 acre) and build then sell it. Then to buy a house which I will rent out to keep me in gas money :) .
I have cash for these projects but I need to trade wisely as it`s my life`s savings.
Thanks in advance for all future advice and I hope to be of help to someone here in the future too.