The Cleaners Lounge Is Going to ICE!!

I'll be Jethro

lol

I registered last night, so I am officially on-board at this point.

Let's see a roll-call on who has signed up so I know if we have enough to make a classic slow-motion entrance to the venue.

Dang you're quick I haven't yet.

Sandra Bullock was caliente

I have found a long time ago that if I don't register to run a race, I will blow it off. Same here, registration puts something on a calendar instead of just a thought.

Good point. I'll let you know as soon as I get it done

I may not be able to pull it off unless I can afford to stay a long period of time...My show will be World Of Concrete and its Feb 1-5 ....I will be vegas'ed out by end of that show. Im very involved in this show....not to mention the expense! I will try though....I just have to see my budget because we are also doing a huge trip this next summer and if I dont quit spending I may be forced to send the wife and kid without me.

I know the feeling Devon, I have an expensive vacation planned in Feb. as well and with winter approaching, the work tends to taper off. Still, there is time to plan and set aside some egg money.

It just seems like I should attend one of these things at some point in my life.

Rob...when you go, you will ask yourself why you havent been before! they are great for a guy like you...you will be in candy heaven!


I have the remainder of the trip and spending money to find....I have a 200 ft Cedar fence to build, I have to finish paying the guy who is cutting trees down for me ($1500 more) then I can rest but I have a lot to do....I want to flip this house in the spring!

Life can get in the way of everything if you let it.

There is still plenty of time left to see how it shakes out. Who knows, I might not be able to attend either by then.

Why do I have this feeling I'll be the only one from the lounge going to this shindig again

I kept asking Dave if he bought the ticket yet and he kept ignoring me !! If he still doesn't respond after this, I will ask him personally on Saturday, we're supposed to have lunch and get my 360i back.
I'm hoping to hitch a ride with him, otherwise I'll have to get a plane ticket ! And no I haven't bought the ticket yet.

Devon07 wrote:....I want to flip this house in the spring!

According to section 523 of the IRS code. If you purchase the home soley for the intent of flipping you are subject to capitol gains irregardless if it was your primary residence and you lived there for two years.

dp1 wrote:I kept asking Dave if he bought the ticket yet and he kept ignoring me !! If he still doesn't respond after this, I will ask him personally on Saturday, we're supposed to have lunch and get my 360i back.
I'm hoping to hitch a ride with him, otherwise I'll have to get a plane ticket ! And no I haven't bought the ticket yet.

I doubt if he going. Didn't you just told Devon it was only a 14 hour drive for him

Mo, I thought Matt and Rob is going for sure, that's 2 guys already and the lounge gets to stay open

We'll see. Now don't you start ranking out me

okay then Im not flipping it...Im just tired of it.

I doubt that this thread will be all over the internet. The IRS probably doesn't even do algorithms searches on forums I gotcha

Why wouldn't I be going?

Mo...

A 1031 exchange!

If you sell rental or investment property, you can avoid capital gains and depreciation recapture taxes by rolling the proceeds of your sale into a similar type of investment within 180 days. This like-kind exchange is called a 1031 exchange. There are also several other ways to avoid this in a legitimate manner...I used the term flip recklessly

Thats true. Have you ever done one Devon?

I have always thought it would be tough to find a seller of a home especially one that is seller occupied that would agree to 6 month 1031 exchange contingency. And if you can't find a house with in that 6 month time you can pull out of the contract and the seller just wasted 6 months.

I guess you the buyer can still execute a 1031 exchange and close escrow like a normal sale without requiring that the seller wait the six months. You would just have to find that house with that 6 month period after close.

Or the seller can agree to the sale but still be able to take and accepts back up offers, But properties on MLS that are pending sale and accepting back ups tend to be over looked by buyers.

PS

There are many ways to do this....I dont really play the game but I do move things around a lot and I love my CPA. I have enough write off to make the IRS feel sorry for me.

Yes, my last property was just that!

Hey guys, I just looked at the giveaways, there's a brand new TNT on there, I know how much y'all love Judson's TM, so get your @$$€$ down there if you want a chance to win it.

Yeah DP he has given one away the last two years. I think this year its a C4. I got 10 raffle tickets just for showing up an you can buy more. From what I understand they have a lot of give aways.