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  #1961  
Old Posted Dec 5, 2013, 11:53 PM
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$400 K would buy a lot of beer.
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  #1962  
Old Posted Dec 6, 2013, 2:54 AM
steveosnyder steveosnyder is offline
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Quote:
Originally Posted by alittle1 View Post
I have two properties:

One is a SFR that I purchased 15 years ago for $40K and has been rented for an average of $8000 a year, taxes are $1200 a year average, insurance $400 average, repairs $500 yearly average. Over 15 years I collected $120K for rent and spent $31500 for expenses. Today's value is $220K.

The other is a commercial property that I bought 30 years ago for $40K and I receive no rent, taxes are $1600 a year average, Insurance is $1000 average, repairs are $0. Expenses are $78000. Today's value is $280K.

If I was to sell both properties today I would pay Capital Gains Tax (CGT) on 50% of the CG at the rate of 37% less expenses which would be Approx. $100K. Gross profit would be $400K.

The question is this:

If you were me, would you tear both properties down, write off 50% of the building face value and spend $750K on re-construction of two new commercial units leasing out for $62K yearly plus an owners apartment above receiving 0 rent.

Or, would you pocket the $400K and head South?
You could always sell your current home that is your primary residence and pay no capital gains, then live in the second home for 1 year and sell it with no capital gains... It would net you around 30k for 1 year of living there.

But really, I know nothing about your age, marital status, financial situation, current job/wage, etc.etc. so I can't really base my opinion on anything.

Last edited by steveosnyder; Dec 6, 2013 at 2:56 AM. Reason: Math was a bit off
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  #1963  
Old Posted Dec 6, 2013, 2:40 PM
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Quote:
Originally Posted by steveosnyder View Post
You could always sell your current home that is your primary residence and pay no capital gains, then live in the second home for 1 year and sell it with no capital gains... It would net you around 30k for 1 year of living there.
However once you factor in the additional realtor fees and moving expense for moving around from one house to the next it would probably just be easier to pay the capital gains tax and remain in your house.

Chances are his current residence is much nicer than his rental property.
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  #1964  
Old Posted Dec 6, 2013, 8:59 PM
alittle1 alittle1 is offline
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You can only stay out of the country for 182 days before your OA is pulled. Therefore you have to have a residence in Canada to come back to. The summers down South are too hot with 110 -120 F temps.

Beer is not the answer and you only wake up with a hangover headache and no money in your pockets.

A good sailboat with reasonable living quarters runs $400 - 650K. Again the 182 Rule bites you in the ass.

The rebuild for $750K brings you income, a place to stay, and a Canadian address, but do you want a mortgage hanging over your head for 14 years @ 70.

Where's all the young gray-matter out there, surely you thought Life through and you know all the answers.

Sky, if I head South we'll do the 3 B's. (Beer, Broads and Beach)
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  #1965  
Old Posted Dec 6, 2013, 9:15 PM
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^ sell the commercial property, punt the renters and live in your mortgage free house. Have a nice little nest egg to pay the bills and head south to a modest place if you want.
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  #1966  
Old Posted Dec 11, 2013, 8:03 PM
alittle1 alittle1 is offline
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Prospective

Received an email from a friend of mine this morning and this is what was said…

Putting things in perspective.

1. March 21, 2010 to October 1, 2013 is 3 years, 6 months, 10 days.

2. December 7, 1941 to May 8, 1945 is 3 years, 5 months, 1 day.

What this means is from the time we were attacked at Pearl Harbor to the day Germany surrendered, the Federal Government mobilized millions of soldiers, built tens of thousands of tanks, planes, jeeps, subs, cruisers, destroyers, torpedoes, millions upon millions of guns, bombs, ammo, etc., --turning the tide in North Africa, Invading Italy, D-Day, Battle of the Bulge, Race to Berlin - all while we were also fighting the Japanese in the Pacific!!
However, that same amount of time is not long enough for the current Federal Government to build a working webpage.

Sobering thought!


This gave me a chance to reflect back upon the old days and think it through to present day. I thought about how such a change could have taken place over the years and came up with this.

Back in the 30’s and 40’s, a man had his family which occupied a quarter section of land. On that land, he had to be pretty resourceful and maximize that land to nearly 100 percent of its potential. There was a place for the animals, a cow that brought milk to his table and butter to the bread that came from the grain that he grew. His chickens ate the grain he grew, provided him with eggs for bread and in the end, meat for his table. Everything that walked or grew on his farm had a purpose and place. Even the man and his wife expanded their family the same way as their farm grew, everything was done in proper proportion. Life was good.

The War, as we called it, mobilized millions of soldiers, as well as millions of civilians to form part of the Machine to stop the War. Every effort that was employed to run the farm and family was used to drive the war effort and stop the insurgents. 1945 was the end of the War, but the big machine that was started, didn’t stop there. It continued on and does so to present day.

The enemies that we had, were taken in to our Country, mixed with our people, married, had families, and melded with our culture. Two types of people were formed; the rational thinkers and extremists.

The rational thinkers went on as their fathers had done, respecting the earth and its bounties as they continued on with life, sticking close to their family ties. These people continued on through life and became doctor, lawyers, engineers, farmers, fisherman, construction workers, etc that make a country great.

On the other hand, the extremists went on to share a dream that their way was right and people should follow their way of thinking and they stuck close to like thinkers. These people grew to become politicians, military infiltrators, social mediators, political activists, hippies, etc., things that suppress a country and cause unrest.

A third type, does crop up from time to time, that is the person who hasn’t found his home and goes from camp to camp, rational thinker to extremist, doesn’t quite fit in on either side but wanes like the wind to either side that will show him presence. Rob Ford would fit in quite nicely here.

One of the largest problems in the 20th century has been communications. Most people wonder, how could that be a problem. We have come so far in communication in the last hundred years, that would be furthest from my mind. If you think about it, you will begin to realize that it is true.

In earlier times, man set out each day, after a good night’s rest, to toil in his field walking behind his horse plowing the field. The pace that he kept was approximately 1 to 2 mph or less depending on how many breaks he took to have a drink of water or mop his brow. This methodical pace is very relaxing and allowed him to go into deep thought and dwell on every word he thought in his mind. He could explore each thought to the n’th degree and at the end of the day, he knew exactly how to tackle each and every situation to a varying degree. This is known as the simple thought process.

As the century progressed, sound communication led to the invention of the telegraph, telephone, still picture led to moving pictures and then a combination of the two led to television and all sorts of telecommunication like cell phones, thermal imagery, internet, etc. Proportion has gone totally out the window, what was big is now small, what was small is now big. A nineteen inch black and white tv is no match for today’s 100 inch models, as well as the new Smart phones are the Swiss Army knife of today.

The one thing that hasn’t changed over the years and probably never will is humor. If you have humor, nothing else really matters. Looking at things though the eyes of the farmer that was walking behind his horse, he had only one view but in prospective, he was able to keep his mind on other things. And, if you read this far, you’ll soon realize that this is a hell of a long way to go, just for A Little Humour. Merry Christmas, boyz!
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  #1967  
Old Posted Dec 11, 2013, 8:44 PM
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You can get a lot done during a state of total war.
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  #1968  
Old Posted Dec 11, 2013, 9:30 PM
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Thanks for taking the time a1 for expressing your thoughts and making me look back and think about the way things were and are now.. Humor is free and easy to try, and if it doesn't work the 1st time you can try again, and again..
Seasons greetings to you and those close to you.

Now go post some damn construction news!!!!

............................................ (>‿◠)✌ ..........................
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  #1969  
Old Posted Dec 30, 2013, 9:21 PM
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Wishin all you posters on SSP an early Happy New Years.

Especially the great bunch in the Manitoba/Saskatchewan forum.

I've had a blast here this year and learned a great deal from everyone.

Thanks.

To a new year of change and forward progress.


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  #1970  
Old Posted Dec 31, 2013, 2:47 AM
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"Extreme wind chills of minus 40 to minus 50 tonight and Tuesday morning."

For fuck sakes.
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  #1971  
Old Posted Dec 31, 2013, 6:09 AM
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feels warm out right now
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  #1972  
Old Posted Jan 1, 2014, 1:08 AM
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That's how cold it has been. -25 without wind feels warm.
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  #1973  
Old Posted Jan 1, 2014, 9:27 AM
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-30 feels warm with out wind here


anyway happy new year
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  #1974  
Old Posted Jan 1, 2014, 5:11 PM
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My love for Winnipeg is slowly dying. Hoping for the best this year.

Happy New Year.
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  #1975  
Old Posted Jan 1, 2014, 7:18 PM
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-30 feels warm with out wind here
Well it would, in Winnipeg.
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  #1976  
Old Posted Jan 3, 2014, 8:53 AM
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  #1977  
Old Posted Jan 3, 2014, 10:00 PM
steveosnyder steveosnyder is offline
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Thought the people here might be interested in this -- the Urban Idea Exchange (www.urbanidea.ca) forum. Apparently 2014 is the year of the urban idea (at least according to the Winnipeg Arts Council).
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  #1978  
Old Posted Jan 7, 2014, 9:57 PM
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A balmy day in the Peg today. Take a walk, no need to plug in the car, no snow forecast, take at least one layer of clothing off.

-21C

Feels like: -21
Wind: NW 7km/hr
Sunrise: 8:25am
Sunset: 4:45pm
Relative Humidity: 64%
Pressure: 102.6 kPa

Well, the humidity is a might bit high, but it can't be perfect every day.
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  #1979  
Old Posted Jan 9, 2014, 10:40 PM
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^ We're finally out of the deep freeze

Observed at: Winnipeg Richardson Int'l Airport
Date: 4:00 PM CST Thursday 9 January 2014

Temperature: -7.7°C
Dewpoint: -9.8°C
Humidity: 85%
Wind: S 22 gust 38 km/h
Wind Chill: -15
Condition: Drifting Snow
Pressure: 100.6 kPa
Tendency: falling
Visibility: 24 km

In other news, Terry Nelson was just elected grand chief of the southern chiefs. Great news.... (turn your sarcasm detectors on)
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  #1980  
Old Posted Jan 10, 2014, 7:58 PM
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^ Winnipeg
cloudy

-5°C.....


Light snow
Feels like: -9
Wind: S 11km/hr
Sunrise: 8:24am
Sunset: 4:49pm
Relative Humidity: 84%
Pressure: 99.8 kPa

It's patio/barbecue weather !! I was looking for my shorts, in my closet today.
Picked up some coolers and brew, starting to hang my patio lanterns..

Ps: On an unrelated note did you notice the new smiles??
lurk, Borg?... Why? Quite the upgrade. Many others.
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