I got a call from a client yesterday with a CPA wanting a 1099 reporting how much income she received from her property last year. I haven’t really reported that before because I just started the property management gig and I give them a profit and loss spreadsheet every year that explains the entire income and expenses. But maybe I’m supposed too?
So this morning I woke up and decided I better figure out how to get my hands on these 1099 forms so I can report someone else’s income. I called the library and they were closed 🙁 rumor has it sometimes they have at least 1040s but I’m not sure they have the 1099s I’m looking for anyway.
I then googled “free tax forms Denver” and found nothing. I googled “free tax forms” I googled “free tax forms near me” then I started reading the blogs about the fact that you can’t find free tax forms anywhere anymore and people are driving from city to city apparently in search of these snipes…I started to get nervous…. someone suggested that maybe the libraries are getting charged for the forms so they are no longer carrying them. I did find them for sale at Office Depot but I don’t need 40 forms for 20 bucks so in order to make a long story longer at least I found this link to free tax forms that will be mailed to you for free. If you click it will direct you to a page with a million and one forms on it from 2017 and 2018. You simply fill in the box with the number of forms you would like the IRS to mail to you. I don’t know why there are 1000 different forms to choose from, I always just picked 1099 miscellaneous because I figure it’s miscellaneous so it should cover all the bases.
Uncle Sam has not made it very easy to find this link probably by design or possibly incompetence but I finally found it so click on it!
Great opportunity in the Crown Hill neighborhood! Large ranch-style home with oversized living areas! 2 wood-burning fireplaces! Kitchen features tons of cabinets and countertop work space! 3 large bedrooms and 2 full baths! Enclosed carport with overhead door! Oversized driveway accommodates multiple cars and/or recreation vehicles! 2 storage sheds! Covered front and rear patios! Fenced yard is perfect for kids and pets! Walk to Slater Elementary and Crown Hill Park!
Call Nick for showing!
House Calls Realty
There is a relatively flat 42 acre lot on Rampart Road at the headwaters of Chatfield Reservoir for sale.
A guy could build 200 patio/townhomes for @ $250,000 each and sell them for @ $360,000 each all day long in this location. This Land Owner is asking $1,100,000 and will carry with only $25,000.00 down! We could offer him $2,000,000…… $900,000.00 over his asking price, if he will carry it over…7 years. We pay him when we close each unit that happens to have a $10,000 lot fee. Follow me? Here is a project I brokered in the past to do just that.
“homeowners report the average cost to build a new house comes in at $289,775, which would put a 2,000 square foot home costing about $150 per square foot. This will obviously vary greatly with all the costly variables involved, so the cost could range between $150,219 and $429,331.”
Build cost 200 units x $250,000 = $50,000,000
Sale projection 200 units x $360,000 = $72,000,000
$22,000,000 in 7 years are pretty good margins in my eyes. I would shoot for a 5 year sell out and I think it’s attainable, given the current lack of inventory.
Average home price in Denver just hit $425k! There would be people lined up to buy these. I have in place, a great title company, great real estate company and great lenders, however, the engineers, architects, start up funding and a builder with mojo would be key.
If anyone out there would like to step up LET ME KNOW! I would be completely on board. This is an actual active listing call me for more info.
The property is 41.9 acres, an ALTA survey was completed in 2017. The property is roughly square, with 1/4 mile of frontage on the Highline Canal on the west side and 1/4 mile of frontage on Rampart Range Road on the east side. The topography is generally flat with a southern facing slope on the southern side of the property. The property has been used historically for grazing and has an agricultural exemption so the property taxes are under $50.00 annually. There is an existing well permit, expired which could be renewed. Roxborough Water and Sanitation District has agreed to serve water to the property north of us and if we participate in 1/4 mile of construction of an 8” water line they would serve us also. The property is currently zoned in unincorporated Douglas County as Rural Residential.
I know this is a little off topic for a real estate website however as an investor or in this case speculator and early adapter of technology I have been getting pretty excited about Bitcoin and Ethereum lately. Along with collecting real estate I’ve started to acquire some digital currency assets recently to diversify.
What I find particularly interesting about this currency is that it is increasing in value as it is “mined” as opposed to the U.S. dollar which is decreasing in value as it’s printed.
For example with Bitcoin they’re only releasing 21 million coins and that’s it… with gold you can keep mining it for ??? so in my mind Bitcoin, since it will be a limited resource, could have more value faster. Bitcoin is currently trading at $6500 a unit and gold at $1200 an ounce or roughly $40,000 a pound 11/13/2017.
Also from what I understand the algorithm is written so that they release less Bitcoin as time goes on. It actually is designed to increase in value through the coding of the block chain. This blockchain mining takes time to release as opposed to just releasing a ton of coins at once which would cause valuation issues, instead it will release steadily and reduce volatility.
Bitcoin is a finite commodity that I have actually used to buy an item with today! I just bought some cologne on Overstock.com using Bitcoin just to see how it works. Depending on whether the Bitcoin is worth more or less than I paid for it I then pay more or less for the cologne… if that makes sense. Pretty fascinating….. It was easy using Coinbase to buy the Bitcoin however, it did take about a week to get everything set up and rolling. I didn’t really trust Coinbase or any of this virtual cash so I opened a separate bank account to only use for digital currency and that way I felt like they couldn’t just help themselves to my bank account or if it was a scam that would be limiting my exposure. Since I bought it, it went up $1,000 but it’s pretty volatile, it’s been bouncing around $500 in value every day.
I originally got a referral link from a buddy who uses Coinbase. He gave me a link and he received $10 in Bitcoin and so did I when I purchased $100 or more in digital currency.
I purchase some before it took off recently. Since then I have been going on a lot of blogs and reading about Bitcoin and Ethereum and one common question is “Where do I get Bitcoin?” and the answer is Coinbase! Coinbase is a great place to pick up some Bitcoin, Ethereum or Litecoin and get started. Please use the link below. If you buy $100 worth of Bitcoin you’ll get $10 free!