As some of you may remember, awhile back I sold off some property. And then, I sold the house and bought this place.

Well, today I got an offer on this place for significantly more than I paid for it. We've only been here a couple of months.

And as it just so happens, I know of a very nice place for sale with 40 acres back in Oklahoma.

The question is, how many times can you do this in a one year period before your woman makes war on you?

Does making money every time ameliorate the repercussions of making her move repeatedly?

Shall I take her out to dinner and perhaps broach the subject over a lovely meal?

If I keep making money like this, can it be taxed as short term capital gains?

Is my life at risk here if I keep making the woman move because I'm making money?

Cheers!

Rick...

Might you be facing capital gains taxes by selling without having lived there for two years?

2 years I believe, keeps builders from skirting the taxes. If relocating to another state, there might be some kind of out, I'd check on that.
Of course you should bring it up, but I wouldn't make the decision purely on finances unless it's very significant. Where do the two of you want to live? That's the main thing IMO. Do you get the impression this place won't appreciate and you need to take this to avoid issues later?

Yeah, I have the feeling that unless I put it somewhere that exempts it, I'm going to be looking at short term capital gains for tax purposes. And I'm allergic to short term capital gains taxes.

It may be time to start looking around for somewhere to park it that makes them forgive the sin.

But that still leaves me with having to inform The Lioness that we'll be moving again.

Well, I'll worry about it tomorrow. How upset can she be? She hasn't done that much decorating and after all, I'm making some money here in a fairly soft market.

And the place I have in mind is very nice and has forty acres for the horses.

She should be thanking me, really. I mean, moving isn't that difficult.

Cheers!

Rick...

Oh, I think it will appreciate, but I stand to make some money here and at the same time I can swoop down on another place that is undervalued that will be nice to have when the market rebounds.

And like Oklahoma.

But if I keep doing this, she's bound to object at some point. She likes to be settled. And she hates moving.

Cheers!

Rick...

When I was in the mortgage business, I had a guy that built and sold every 2 years--sometimes more often. He'd build a house for his own family, not really investment, and just had a knack for getting offers right away, building in the right places. He was to the point he wouldn't even paint anything BUT neutral colors and refused to ever put up a mail box since he was tired for forwarding mail. PO box only. Kept getting offers he couldn't refuse. So he didn't. LOL
If it's worth it, it's worth it. Not the same for everyone.

I think it's time to find a good CPA. I know that if you sell a property and replace it within a limited time (six months, I think), then you can avoid capital gains taxes. I'm not sure if there is a limit on how many times you can do this, though. I've only got experience with doing this several times over several years.

Even better get the buyer to buy the prperty in OK for you and exchange it for the obne you are selling.

No profit, no tax.

Free Pro-tip.

What I don't understand ('cos I don't use steam) is why should anyone have his/her credit card number stored on a remote machine of a remote company, somewhere... I mean, if I want to buy something, then I enter my CC number right there, why would I want to store it for future use?

And 2) I guess Steam has a monstrous EULA that says you can't sue them if your CC number gets stolen... Right?

Well actually Wile E., if I buy the place in Oklahoma, I'm thinking I'll buy it on disc, not the Steam version, so I'm not too worried about all that.

Bartender! I'll have what he's having!

Cheers!

Rick...

hahaha Sorry, I was reading the Steam hacked thread, and somehow... Mods, if you please, wipe it out.

Lol ..now that was random

Where do you want to settle Rick..or better yet where does the Lioness wish to settle? If you do this too much she is definitely going to get the sh/ts on with you, uyou know that, regardless of money. Must be worth while seeing as how it seems you have already said yes in your head..will she be annoyed you have basically already made the decision without her?

I don't know if she is going to want to get to point of not worrying about putting out a letterbox because her man could spring a sneak house move on her at anytime.

The buy and trade won't work. No way am I showing this guy the Oklahoma place with forty acres. He's from out of state and has more money than anyone deserves and he'd buy it himself.

As for getting the whole thing past The Lioness, I have this going for me: Forty acres would be nice for the horses. And there's a barn. And the house is really, really impressive. If she focuses on that, she might forget that I've been doing this an awful lot lately. The Oklahoma place is also brick, and she likes brick houses.

I'll probably get away with this. But once I do it, I'll have to cool it. For one thing, she'll probably love the house. For another, I think I've used up all the "Let's move!" options I have for a number of years into the future, LOL!

Location isn't really a problem because it's all within the same general region. I like Oklahoma better because they have great laws for veterans, and a lot of other things.

So I think tomorrow I'll take her for a ride and show her the place. That ought to set her to thinking. That and the offer on this place, which is pretty good.

Cheers!

Rick...

You will be missed if you don't make it back from your trip to Oklahoma because the Lioness beheaded you.

I thought if you invested in another property of higher value you wouldn't have to pay capital gains tax since there isn't a profit ?


Wheels

Here in France the profit is the difference between the price you bought and the price you sell the same estate(and it's not two years but 5 years)...and doing a simple exchange between two estates should not fool people at the tax office, they will calculate the virtual transaction as a buy/sell thing and apply taxes on it , plus penalties and fees and everything they want so you don't do such a thing again in the future... a too obvious, too gorgeous bargain will be taxed on the market price in case you did some "undercover" deal with the buyer too.

That only shelters the amount that you spend on the more expensive property. Any leftovers are still in danger of some severe tax rates.

I'll either consult a CPA or ask my broker if there isn't some nice government or municipal paper or some other vehicle that would defuse the tax impact. Surely there's something out there that would work.

Cheers!

Rick...

I know I'm not the only one...


http://www.merriam-webster.com/dictionary/ameliorate

Madam had a look at the Oklahoma house with 40 acres.

"If you can make the sale and buy this, DO IT!"

I sometimes think that I lead a charmed life.

Cheers!

Rick...

LOL! ..your not the only one !

does it have a frady hole?

LOL! Nope, no frady hole. You just have to face things.

Cheers!

Rick...

Did you tell her that you already had the next house lined up after she got moved into the one on the 40 acres.


Wheels