cody54

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That would be a fairly large piece of property that could be logged then replanted in stages so that you have yearly or every other year income from the timber. ETA: Could also keep it leased to hunters at $5/acre or more depending on how the deer hunting is there.

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Actually its only 28 acres. Appraised for 50K / acre a few yrs ago. Havent see deer in years but do have 7 turkeys living there

Yea it will be a while before I can do anything. Was thinking if I got in the real estate business maybe one of the houses my company owned could be my house and I pay super cheap rent just to keep it legit. The company would own my vehicles etc. So all the expenses associated with the business could be tax write offs and I wouldn't have a house note or vehicle expenses. The company would have very little tax liability and I wouldnt have to make much money to pay my bills so my income taxes would be cheap as well. Am I thinking correctly, could this work?

Lets say I have some wooded acreage worth $1M, I do not have the means to develop it however I could sell it to a developer. I was thinking about selling and taking that money and buying 6-7 nicer starter homes with cash and renting them. Basically trying to turn a non income generating asset into an income generating asset; I would still own $1M worth of property but it would be generating cash. If I got say $1k rent on each of them that is 7k/month or 84K a year. I do not know much about rental property and was hoping that some of you could chime in and tell me what you think. Could anyone recommend any better ways to invest the money?

what up howie?

A little background info: mom got west nile virus in '03. coma for 3 months, on ventilator for 1yr. she is not mobile, has a little use of her arms, can feed herself on her own but that's pretty much it. dad died in June and mom broke her hip last week b/c the lift we use to move her from bed to chair tipped over. I want to improve her quality of life by doing what i can to make everyday life easier on her as well as us.

debt: car/truck, my house, which is going on the mkt soon. everything at mom/dads place is paid for

spouse and my income: approx 70K/yr together
mother gets SSI also on medicare/medicaid

special accommodations needed: ceiling track lift system, handicapped bathroom facilities, wheelchair van.

wife and I are moving in with her to give care.
Mom's ssi check pretty much covers the utilities there.

We have 28 acres in DS off of Brown Rd. Was thinking about selling about 8 acres. I could sell this portion and not feel like i lost anything b/c we don't really use it. judging by past (2007) market value of 50K per acre if i sold the 8 acres, that's 400K. Could solve a lot of problems with that. About the short term gains, I was talking about letting the money sit in a safe place like a savings acct and make money off of the interest but after some calculations the gains wouldn't justify it.

Also there is one other problem concerning this. When dad died, his half interest in the place went straight to me (only child). The other half is still in mom's name. This presents a problem with estate recovery from medicare/medicaid. I have a lawyer checking on the proper way to get the land out of mom's name and into mine w/o affecting her benefits. I would hate to sell my portion and build on her's only to have the gov. come and take it away upon her death to recoup the $ they spent on her care.