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Posted on 5/17/24 at 4:01 pm to HoustonGumbeauxGuy
quote:
some company will buy it for a tax arb
What is a tax arb?
Posted on 5/17/24 at 5:52 pm to deeprig9
Tax arbitration opportunity to reduce the wads of cash Uncle Sam is always asking for
Posted on 5/17/24 at 6:01 pm to HoustonGumbeauxGuy
quote:
Tax arbitration opportunity to reduce the wads of cash Uncle Sam is always asking for
The gov doesn't tax wealth (yet). But they do tax property. How is buying a luxury hunting lodge a tax shelter?
Posted on 5/17/24 at 6:13 pm to cajunangelle
quote:
yeah, he is making a profit selling @ $40 Million---- because this will all be underwater, and Richie Rich couldn't afford the homeowners/flood insurance before then.
Why does someone that can buy a $40 million property need insurance on it?
Posted on 5/17/24 at 6:15 pm to TheFonz
Funny, Jim Flores and Billy Rucks started out with a single wide in Grand Chenier La. Once they hit it big both spent millions making their weekend spots very nice.
Posted on 5/17/24 at 11:01 pm to deeprig9
I never said the word shelter
Posted on 5/18/24 at 7:25 am to HoustonGumbeauxGuy
18,000 acre properties are not everywhere. Sure you can buy it in west Texas but who the frick wants to go there outside of hunting exotics? You buy this because you can be there in 2-3 hours anytime you want and get away from people. As others have said, Covid really ramped up the top 1% interest in land especially bug out type places you can get away from the world for a bit and survive on your own for a bit.
Plus bought at a reasonable price it’s an appreciable asset and possibly a way to purchase as a business with write offs.
If you can drop $20 mil on a place it’s not your only hunting shack, probably have a ski house, place on your wife’s favorite beach, etc. also.
Plus bought at a reasonable price it’s an appreciable asset and possibly a way to purchase as a business with write offs.
If you can drop $20 mil on a place it’s not your only hunting shack, probably have a ski house, place on your wife’s favorite beach, etc. also.
Posted on 5/18/24 at 7:36 am to Mud_Bone
Was this recently built?
Posted on 5/18/24 at 7:46 am to baldona
quote:
18,000 acre properties are not everywhere. Sure you can buy it in west Texas but who the frick wants to go there outside of hunting exotics? You buy this because you can be there in 2-3 hours anytime you want and get away from people. As others have said, Covid really ramped up the top 1% interest in land especially bug out type places you can get away from the world for a bit and survive on your own for a bit. Plus bought at a reasonable price it’s an appreciable asset and possibly a way to purchase as a business with write offs. If you can drop $20 mil on a place it’s not your only hunting shack, probably have a ski house, place on your wife’s favorite beach, etc. also.
Unless these mineral rights are off the charts, the entire parish isn’t worth $40M. Of the 18k acres, 17,900 is marsh. Outside of hunting, it’s a useless property.
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