beat the system

[Texas Diesel]

What is the point of having a house (American 'dream'), paying $3,000 year in taxes (goes up each year), paying maintenance/repairs/paint/roof etc. ($30,000k PLUS every 10 years), then pay a 22% capitol gains tax when you sell. Just like the Matrix, we are energy sources for the system.



We are in an experiment in alternative living. 14 acres, agricultrial use, taxes: $21. 50 a year. Live in a 39' triple slide park model RV, 400sq/ft, bought new for $21800 (7. 3 years of property taxes IF the tax rate didnt increase ) taxes: $59 a year, they cant tax a RV as a residence. We save $30k+ in taxes (every 10years) and have the land to appreciate in value. With a metal structure shielding the RV from the Sun and rain it should last a long time.



Are we deluding ourselves?

 

[MCummings]

You read my mind on the RV/cover/ranch thing.



Merrick

 

[ndurbin]

I showed this to my fiance and she still thinks I am crazy for just wanting to live in an RV. Makes perfect sense to me.



Another plus is if ya had to move ya dont have to worry about boxes or all that fun stuff.

 

[Alan Reagan]

Want a neighbor Tejas????

 

[rmrc]

If it wasn't for having a family, I could EASILY live in an RV. Wouldn't need anything else!



I'd buy as large a parcel of land as possible, and park the RV right in the middle!!!!!

 

[Vaughn MacKenzie]

I have thought of the RV idea too. I was searching in earnest for a new home for a few months but was turned off by the high taxes. It's almost shocking. I threw in the towel and will be happy with what I have, it's small and built in '51 but it's solid and getting close to being paid for. I decided I'd rather look forward to not having a mortgage payment than a new house I'd be paying large payments on for the next 15 yrs. and paying the high taxes.



Vaughn

 

[HoleshotHolset]

Holy Crap! I NEVER thought of doing such a thing!!



Man, I can't believe how much bread I could save over buying a house!! Wow!



If only I could convince my 'old lady into living in a trailer. Heck, with the money I would save - it wouldn't be out of the question to put up a real house on the same property over the years...



Matt

 

[dpuckett]

That isnt a bad idea. Hmmm. HAve to see what counties are and arent zoned and regulated. Holeshot Holset, you may not get too far ahead with the prices of some trailers outpacing the trucks that pull them.

 

[HoleshotHolset]

I just got the go-ahead from the 'ole Lady tonight.



She said it would be perfectly okay for me to build a HUGE garage on a piece of rural land and park a trailer inside. Here's what she said: "As long as its clean... and I can hang pictures and make it look nice... I wouldn't mind. Could we put furniture in the garage too?"



I said: "Sure... okay... . great. Of course we can put 'furniture' in the garage. " :-laf



If I were to go through with this awesome idea... I wouldn't buy a new travel trailer. I'd buy someone's used trailer... . You know... I've always liked Airstreams! One of those wouldn't save me much money... but they sure are well made and hold their value like a son of a gun.



Matt

 

[TboneMan]

Texas D...



FYI, federal capital gains tax has has been pretty much eliminated for the "average joe".



Since you are married you would only be taxed if you had more than $500,000 in capital gain on the house.



So, if you bought the house for $100,000 and you sold if for $600,000 there would be no capital gain.



If you are in a market that can support this kind of appreciation in value, buy a new house every two years and sell it. You'll be as rich as Bill Gates before you know it.

 

[klenger]

TboneMan



The problem with your theory is that each time you sell a house at a profit and then buy another one, you are buying at the inflated price, so you really haven't made any money, unless you can some how buy low and sell high. Build your own or buy fix-me-ups would be ways to do this. I suppose another way is to search for fire-sale (not literaly) prices from those desperate to sell. Of course, you also need to figure in the real estate fees and loan fees. It can be done, but like hot-shotting, it's not as easy as it might first appear.

 

[Texas Diesel]

Somone jst sent this to me, interesting reading.



http://www.taxadvisorsinstitute.com/rv.php