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Unfortunately I did not find your book in time for that house but we have it for the next one. It is a great book, full of useful information. Lots of it seems like common sense after you read it, but I did not have the common sense to think of it before I read it.
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By Jeff in Provo, UT on 3/29/2004


I think that many of us that look into building our own home do so as a form of getting involved in real estate investing. So, I open this forum hoping that some of you can share your success stories with us. In the future, I'll share mine.
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By Bill in Baltimore, MD on 3/30/2004


Being currently immersed in building my home now, I cannot imagine doing this over and over again - whether it be several times a year or every couple of years. For those of you who do it - I give you great applause and which you luck. For those that may be considering this for the future, my only caution would be that this tremendous bull market in real estate that the country is experiencing will ultimately end - all bull markets in any sector will eventually end - it is simple economics. When this happens, be sure that you have not extended yourself to the point that your future is placed at risk.

Always ask - where and how can I get out of this investment at any point and what is the consequence of getting out in any scenario!!! Best of luck to everyone and anyone who tries to speculate in the real estate market.
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By Joseph in Stafford, VA on 3/31/2004


Bill, you are very right about your statements. I just do not know what is keeping the real estate market still going strong. I sold my house before it came on the market in February!! I went to a builder and bought a house early March that had not broken ground yet. The base price has gone up $15,000 already. They do have about 80 houses more to build for which 14 families signed a contract after me. I was told builders increase the price after selling four to five houses.

The main question is when will all this hit the roof? As an investment, I think it will be a good idea to build just about a medium to the smallest house in the area to put you in a position that it could be sold quickly when house sales slow down. Also, one can position themselves to move in the house if possible, or rent it out till the market picks up.
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By Susan in Middleburg, FL on 6/3/2004


I think you are exactly right. The real estate market will explode and slow as it has in the past but one thing is pretty clear, housing prices continuously go up.

I am a Realtor beside from building my own home, and have seen many people lock into new construction prices in the past year and move in with equity. One friend signed the contract late last year, hasn't even broke ground yet, and is sitting right now with $30K in equity.
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By Cheri in Suamico, WI on 8/22/2004


Hi all: If I would decide to owner-build and sell, would I have to get a broker's license? Or are there so many houses you can build a year before needing a license? Would you form a small business as to avoid capital gain taxes? What are your thoughts? My husband and I have built a few homes with a builder and are looking at building and selling.

Thanks,

Cheri
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By Donald in ST.AUGUSTINE, FL on 3/2/2006


Greetings All,

I have a question. Last year I started and completed my new home. I had sold a couple of rental properties to cover some of the cost of building. Can this work to my advantage in working out my taxes? In a convoluted 1031 or such? Any help is appreciated.

Donnie


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By James in Spring Branch, TX on 3/2/2006


Cheri, as for needing a broker's license, it is not a must-have, but you can look into getting your Realtor's license. Each state is different on the time needed after getting your Realtor license before getting your broker license. There are some websites you can use to list any of your houses on the MLS so that can save you Realtor commission on the listing end. But in business if you do not create a solid network of business associates that can also make money, it is sometimes hard to grow your business.

As for needing a license to build, each state has different laws. Example, in the State of California you have to take a test and get your general builder's license. But in the State of Texas only the city can dictate such laws. If you build outside the city limits, there is no licensing required.

Businesses pay taxes. Maybe not at the same tax rate as a person, but they pay taxes. So put a business plan together to determine the size of business you and your husband plan on growing, and get at least three opinions from some tax accountants with business experience before you move much further with that issue.


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By Michael in Cave Creek, AZ on 3/2/2006


A 1031 or Starker exchange would not work in this instance because like-kind property must be exchanged and there are some very strict rules regarding the time line for the exchange. A rental property and a personal residence are not considered like-kind property under the tax code.

Fortunately capital gains are taxed at a lower rate than ordinary income and you can deduct the costs of the sale, including fix-up costs associated with the sale and your real estate commission.

You may want to consult a tax advisor for more specifics.


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By Quiktrak in Beaverton, OR on 10/9/2017


Thanks for sharing...
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By maya on 3/31/2019


For sure it's important not only to invest, but to promote too. I boosted my instagram account with different insta bots and by bying bloggers' ads, but there was always lots of scam so I used https://spamguardapp.com/  to get rid of them and make my profile attractive 
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By Mr Pipes in Sudbury, ON on 3/5/2020


This is really the best investment. Land and houses' worth keeps on growing. 
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