http://www.tourfactory.com/s423283/r_www.youtube.com
47 acres zoned for horses & other livestock. Can have 2 homes on land. 2 Creeks meet on property, pond on one side. Basketball Hoop in driveway & Volleyball area. 6 Bedrooms + main floor & upper level studys along w/a craft room, 6 Bathrooms. 7105 finished square feet including the mostly finished walk-out basement. Huge formal dining room for entertaining w/rod iron chandelier & built-in bookcases w/dimmer lighting. Large family room w/upgraded carpet, tiled gas log fireplace, & views of the mountains. Formal living room w/wide plank (composite) wood floors, cathedral ceiling, double French door to deck, recessed art niches, hearth gas log fireplace, in-wall speakers, ceiling fan, & sconce lighting. Main floor laundry w/hook ups for 2 washers & dryers & utility sink. Kitchen open to the family room for entertaining w/spiced Cherry cabinets w/crown moulding & green cabinet accents w/full roll-outs, pine colored granite counters, 2 under mount sinks, both w/garbage disposals, new stainless steel gas stove w/griddle vent fan & warming tray, moveable center island, large walk-in pantry w/Refrigerator & tons of shelving, sound system in pantry for whole house, tile floors, & built-in china cabinet off kitchen to dining room. Eating nook w/bay window, tile floors, & ceiling fan. Master w/private deck w/fantastic views of the bluffs, buffalo & creek sounds, sitting area w/gas log fireplace, recessed media niche, coffered ceiling w/ceiling fan, double door entry to huge spa like bathroom w/vanity area, dual furniture sinks w/matching mirrors, tile floors, large shower w/seat, corner jet tub w/pentagon window, vaulted ceiling, art ledges, & HUGE walk-in closet w/washer & dryer hookups & small office w/views. Jack N Jill bathroom. Finished walk-out basement w/heated concrete floors, Rustico room set up for Home Gym, built-in 10 Projection in the Home theatre - wired for surround sound, storage behind for shows, plumbed for wet bar & full size fridge. Basement bedroom is great for kids play area w/hidden door to stage - air hockey & foosball will stay. Full bathroom off bedroom & craft room. Main floor office w/floor to ceiling windows, ceiling fan, views of Dawson Butte, porch, & beveled French door to front entrance. Main floor bedroom. Built-in dog house (approx. 14 x 16) w/doggie door to dog run outside. Office Loft Area. 1000 gallon propane tank & AC. 3 car garage completely finished w/French door to deck. Great low maintenance deck Trex-like w/fantastic views, front & back yard, sod w/auto sprinklers, concrete walkway around yard, & bench & picnic area.
ISSAC
Real estate investment offers positive cash flow and tax benefits. However, much like any other investment niche, real estate is dependent on intricate market trends that must not be overlooked, lest the investor may suffer a significant loss.
Surprisingly, several newbie investors are willing to part with their hard earned money, without carrying out a preliminary research of their investment. Instead of relying on a meticulous analysis, they bank on intuitions and traditional trends. But before you risk your investment, do heed the following real estate investing advice, in order to ensure significant returns on your property investment.
a) Verify the seller’s credentials - Newbie investors find a lucrative property but don’t bother verifying the seller’s credentials, since they are in a hurry to bag the property. But I suggest they hold their horses. They should verify certain aspects, including rent payment records, taxes, and other possible expenses.
b) Avoid negative cash flow - Another real estate investing advice is to choose a property that does not eat away your working capital on a regular basis. There is no point buying a property that requires more money for its upkeep relative to the revenue it generates for you. You might be forced to sell such an asset prior to the realization of any benefits of ownership.
c) Original tenants can provide the much needed information - Ask the tenants if they are troubled by pest infestation, lack of basic amenities, or some other recurring problem. You surely don’t want to buy a property that requires an awful lot of repair, and even if you do, you must know the problems upfront.
d) Look for an insurance cover - A crucial real estate investing advice is that you must have adequate insurance coverage for your newly bought property. Insurance will provide the much needed veil to protect your personal assets against some legal action.
e) You must charge fair rents - No expense hurts more than what’s incurred in the upkeep of a vacant property. Therefore, charge fair rents to ensure that your tenants stick with you for as long as you desire. Moreover, you must also ensure that the chosen tenants are not defaulters. Verify their credentials, talk to their previous landlords, and check their credit history. A preliminary research can save an awful lot of trouble later.
f) Maintain a certain degree of frugality until you have a healthy source of income - Once you have closed a profitable deal, you must avert from going on an extravagant shopping spree. Instead re-invest your profit towards another property payment until you attain a significant positive cash flow on a regular basis.
On the whole, real estate investing can be an extremely profitable investment niche. But you must have a good grasp of what the procedure entails, and must not leave any stone unturned. Just adhere to the real estate investing advice put forth above, and you shall be on your way to become a professional real estate investor.
Copyright © 2006 Joel Teo. All rights reserved.
MAC
http://www.tourfactory.com/s459709/r_www.youtube.com
1.25 acre horse property with a custom 3 bed, 3 bath, with a relaxing courtyard and separate dining, living and family room. 2 master bedrooms are located upstairs, each with its own walk out balcony to see the gorgeous mountain views and city lights. All bedrooms have walk in closets. Beautiful rock fireplace, newer stainless appliances, neutral carpet, tons of storage, walk in attic access. Exterior of the home was totally repainted in 2006. Full RV parking with sewer hookups. This is a short sale property. Home sold As Is.
REYNALDO
A recent decision by the Special Commissioners in Belfast highlighted a distinction between Agricultural Property Relief (APR) and Business Property Relief (BPR) that is of importance to anyone who owns agricultural land. The case has the snappy title of “Philip Norman McCall and Bernard Joseph Anthony Keenan (personal Representatives of Eileen McClean deceased) v The Commissioners for HM Revenue and Customs”, and it dealt with APR and BPR.
When you die, Inheritance Tax (IHT) is payable on the value of your estate to the extent it is greater than the “nil rate band” which is currently £312,000. There are a number of reliefs that can be claimed, and the two most important are BPR and APR.
APR reduces the value of “agricultural property” in your estate by up to 100%, giving what is effectively an exemption from IHT, providing certain conditions are met. It would take a book to cover the detail of this, but what we are concerned with here are the exemptions available when you “occupy” land “for the purposes of agriculture”.
Obviously, a traditional farmer who owns and farms his land will qualify for this, but on the margin there are those who own the land but receive payment from someone else for using it. This commonly occurs when a farmer is getting on in years, or perhaps he has died and his widow does not want the trouble of actually farming the land herself. Or perhaps he is a “lifestyle farmer” who bought the place because he enjoys the country life, but is too busy to farm it himself.
One way in which the “occupation” condition has traditionally been met in such cases is to let the land for “grass keep”. Grass keep is an arrangement between the landowner and a third party (“the grazier”). The grazier has the right to graze his animals (sheep or cattle, typically, because horses are not “agricultural” except in special cases) on the land for a period of less than the full 365 days in any year, and the landowner undertakes to deal with hedging, ditching, mending gates and fences, and generally keeping the land in good condition.
It is well settled in law that a properly drawn up agreement for grass keep has the effect of leaving the landowner in “occupation” of the land “for the purposes of agriculture”, so on his death APR can be claimed at 100%.
In fact, 100% APR is also available in most cases where the land is let out on an ordinary tenancy to another farmer, but there are two crucial differences as a result of the landowner no longer being the “occupier”. One of these is that unless the landowner is also the farmer, the farmhouse occupied by the landowner will not qualify for APR, and the other is that APR is only available on the “agricultural value” of the land.
The “agricultural value” of land is its market value estimated on the assumption that it could never be used for anything except farming. If the land has development value because it has planning permission, or even “hope value” because it might get planning permission in the future, that part of its value is not covered by APR. Those who know their land values will appreciate that, even with the price of farmland up to £6,000 per acre these days, the development value, or hope value, may well be many times the agricultural value.
This is why it has been considered good tax planning to ensure that the landowner remains in “occupation” of the land. In the case of a farmer and his land, BPR comes to the rescue where APR fails to provide relief for the full value of the land.
BPR does not draw a distinction between agricultural value and market value. If the landowner is using the land for his trade at the time of his death, then BPR (also at 100%) covers any of the value of the land which is not covered by APR.
There has been a perhaps rather glib assumption that provided you met the “occupation” condition for APR, you were deemed to be farming the land yourself, so BPR would kick in as described above.
The Special Commissioner in Belfast did not agree. He accepted (indeed it was not in dispute) that APR was due on the land involved, because it was being grazed under an agreement for “agistment” (which is the Northern Irish equivalent of grass keep), but he did not accept that this automatically meant that it was also eligible for BPR.
The Special went through the written agreements in minute detail, and also looked closely at the evidence of what work was done by the landlord on the land, and he reached the conclusion that although what was done was (but only just) “a business”, it failed to attract BPR because it was a business of “making or holding investments”, which is specifically excluded from BPR.
The decision included this description of the grass keep arrangement:
“The activities of the business consisted of the making available of its major asset to other persons for payment without the separate provision of any substantial other goods or services”
More succinctly, the Commissioner also said:
“The land was used not to make (part of) a living on it, but to make (part of) a living from it; it was used as an investment”.
That is a neatly expressed distinction that I expect to appear in letters from HMRC in future when the difference between the agricultural and the real value of land qualifying for APR is important. Just to end with a flavour of the gap between agricultural value and open market value, in the McClean case, the agricultural value of the land was £165,000.
The open market value was £5,700,000, because the land had been zoned for development by the local council!
James Bailey
http://www.taxinsider.co.uk/
NESTOR
the horse to us. Yesterday my daughter went to ride him and he is limping. Isn’t it customary for the former owner to take responsibility for him as long as he is on his property? In other words, shouldn’t he take him to the vet and pay for his care?
He’s not really doing me a favor. I couldn’t take the horse with me because the former owner hadn’t gotten a Coggins test for him and the new stable won’t take the horse without proof of a negative Coggins. If he had done what he was supposed to do, I would have been able to take the horse with me when I bought him on Friday.
Yes, I had him vet checked on Friday. The sale is conditional upon a negative Coggins. If it’s positive, we get our money back and the deal is off.
JAMAAL
http://www.tourfactory.com/s370120/r_www.youtube.com
Beautiful home with panoramic views on 1.25 acres. Cusotm Modular home is everything you always dreamed of! Built in surround sound inside and out, wood stove, absolutely to-die-for views, and much much more!!
HIRAM
