Land Leases - Are They Just For Commercial Buildings?
Has anybody ever heard of a land lease being done on a residential property??
Now I have heard in cases of some commercial apartment buildings.
But what about individual single family homes.
Land Leases are very common here in hawaii we call them leaseholds. A large number single family houses, condos and apartments are lease hold property. I pretty much steer clear of them, doesnt seem to be much room for profit if you arent the leaseholder.
Kiowadriver
ok, my mind is drawing a blank. What are you refering to "SE tax"??
Typically, if you have owned these lots for 2+ years, you would pay long term capital gains (15%) plus whatever your state income tax rate is. If you just developed these lots and then sell them immidiately upon creating them (i.e. just recently subdivided them), you will pay taxes based on your income bracket.
Consult a CPA!
Also, are there any scripts or a common letter that you would send to every owner (care to share)?
Could really use the help in the wording department!!!
generally, when a buyer and seller are talking directly, the first party to throw out a number "looses." I have bought properties that I would have paid many thousands more than what the seller told me they wanted but since they told me that is all they wanted I said ok.
Thanks Woodsong,
But do you send out letters or personally cold call them and bring it up???