All Forum Posts by: Travis Elliott

First off I hope this is the correct sub forum (BP is over loaded with sub forums)

I am wondering how many BP members live solely off of their real estate. By this I mean a person who doesn't have a job and isn't living off of a trust or some kind of investment other than real estate.

I know only one person personally who is one hundred percent supported by their rentals. He hasn't had since he was twenty and he is in his seventy's now.

Hey Travis (nice first name) are you sure about the due on sale clause? If so are you recording the title or are you waiting?

A couple of questions..

Why sell if you are going to be getting the same payment as the rent? What is the advantage?

Are these properties that you guys are selling paid off? If not how do you get around the due on sale clause?

Thanks

Travis

This thread is relevant to my interests...

Sub..

Thanks for the info Al... I will continue to look into this. It could be that adding onto a house may be better.

My current homes wont work but I want to start planning for the next property.

Kyle--

That is a good thought but the structure of the home would have to be altered in order to put a door way with bedrooms on the home. Also there would be a lack of privacy versus separate structures.. I will have to look into that idea..

Ron-- Montanans are tough and we can handle it..

This would have to be run by the city planers first of course but other than that what do you think.

Travis

So what do you all think about this idea.

I live in a small college town in Montana. I had a thought on how to increase profit on properties. A lot of people rent rooms instead of the whole house in order to increase their rents. I was pondering the idea of putting some very small cabin type structures on a property. They could be used as detached rooms. Tenants would share the kitchen and bath of the main home but use the cabin as their main living area.

That is great!! It is pretty hard for people to make a buck in this day and age and not be taxed like crazy. 15% is a great rate.. I knew there was a difference between the long and short gains but I didnt know that long term one was that low..

Thanks Jon

So if I am in a twenty percent bracket then I am taxed at that rate correct?