All Forum Posts by: Andrew S.

Dude, whatever happened to "innocent until proven guilty"?  You are ready to kick this guy and his whole family to the curb before he's had a chance to tell his side of the story in a court of law.  The OP has a valid contract - his lawyer advised him that it is a valid contract.  I suppose he could offer cash for keys, but otherwise, why not wait and see what happens.  If he is innocent, he deserves to live there and if he does get convicted, chances are he will live "off-site" for a good while anyhow, so, either way, he won't likely be a problem.

This is a bit like going to NBA.com and asking “do you prefer basketball or football?”

In the US, it is irrelevant whether you actually claimed it each year or not.  The IRS will assume that you did (as it is mandatory) as you will have to recapture it, whether you actually bothered to take it each year or not.  So, NOT taking it, you are simply flushing your money down the drain (well, actually, the IRS benefits from it, so you are providing extra cash to them).

Apparently, in Canada, this is different in that there, you have a choice to take it or not, and if you don't take it then you don't have to recapture.  But in the US, you are assumed to take it.

 I agree - you need to provide a return address.  To me, any mail where the sender isn’t readily identifiable goes straight to the the trash, unopened.  Legitimate Senders don’t need to hide.

Don’t be a Mr Raffrey.....   https://www.nytimes.com/1995/12/29/world/a-120-year-lease-on-life-outlasts-apartment-heir.html

 I have done several delayed financing exemption deals.  Never had anything to do with tracking renovation activities.  Basically, you pay cash for the property, renovate it, and then the lender orders an appraisal.  They’ll then lend you the lesser of: 75% of the appraisal or the original purchase price (plus original closing cost).

I found that in my neck of the woods, most mortgage brokers are familiar with this product and can find a lender who will do the deal.  Maybe this is different in other parts of the country though.

Thanks for responding!  I realized that part of the deed description of the easement refers back to an older deed - I will have to visit the County office to get that (too far back to be online).  I will post a follow up once everything is available.

The coordinates are in degrees, minutes, seconds.  The GIS system for the County can generate nice maps of the parcels - what I’ll have to figure out is how to overlay the road derived from the coordinates onto those maps.

@Christa S Rickard  - I’ll take you up on your offer once I have the info.  Much appreciated!

@Tom Gimer  - I’ll be happy to post the pdf of the deed once it’s complete.  Thanks!

I rently purchased two parcels of land at a Sheriff auction. There are a couple of easements (an HOA holds the easement for a possible, not yet really existing road ) listed in the deed but the description is basically a string of coordinates. What is the easiest way to "translate" this description back into some sort of a map that allows me to see where exactly the road easements are? This is a very rural area, so believe it or not, it is NOT obvious where the road runs as it is quite overgrown.

The HOA does not have a map for the proposed road (all they have is the same table of coordinates). I tried to locate the surveyor who generated the data, but he is no longer in business. My next step was to contact other surveyors who presumably have software that can do this, but so far, I have been turned down by several offices- they all seem "too busy" doing more lucrative work.....

Does anyone here know another way?  For what it is worth, the County mapping department was no help at all....

 Actually, this rule was established with the assumption of an average retirement of 25-30 years (Say, you retire at 65 and die at 90-95).  It also assumes that you have the money invested at about a 50/50 mix of stocks and bonds.  So, if by “early retirement” you mean age 30, then no, a 4% SWR will not necessarily carry you to age 90.  A 3% SWR probably will.  Since this is a real estate site, the next question is: in the long term, does real estate income behave more like stocks or bonds?  

Debates on all of this are endless.  I recommend you take a look at www.early-retirement.org or www.bogleheads.org

To answer your question directly: everyone doesn't do this, because a.) everyone doesn't have a million in investable net worth and b.) everyone can't or doesn't want to live on $40'000 a year (pre-tax, unless it comes from a Roth IRA).

... highly likely someone from a LCOL place, and possibly, a state without income taxes.....