Posted by Ernest Tew on November 04, 2000 at 17:25:40:
As we discussed by telephone, the Net Lease and Option Agreements solve other problems, such as avoiding taxes on the entire capital gain in the year of sale. And, of course, when you lease the home you can take depreciation to shelter a part of the income from taxes.
Need help with Agreement’s - Posted by Amy in MO
Posted by Amy in MO on October 29, 2000 at 21:29:36:
I have both of Lonnie’s book’s and am ready to make a deal.
I have been looking at mobil homes and talking to managers.
I need to know how to draw up the agrement’s. Do you just copy out of book and blow up or type out or is there something Im missing.
Also were do I go in in my state of MO and my county to find out about Licensing.
Thank you very much for all of your help.
Amy
Re: Need help with Agreement’s - Posted by Ernest Tew
Posted by Ernest Tew on November 01, 2000 at 16:28:08:
I recommend using two separate documents: (1) a Net Lease and (2) an Option To Buy. Handled properly, you can solve a major income tax problem for yourself. If you live in a state that charges a sales tax on mobile homes, the forms will solve that problem for your “buyer” and allow you to keep more cash.
Please contact me by e-mail if you would like to have a copy of the forms. (They have been used in hundreds of transactions without any problems.)
Re: Need help with Agreement’s - Posted by Ernest Tew
Posted by Ernest Tew on November 01, 2000 at 16:17:31:
If you will send me an e-mail and let me know if you want to use a Lease-Purchase Agreement or a Net Lease and Option agreement (recommended in states that charges a sales tax on mobile homes), I’ll e-mail some excellent forms to you.
Re: Need help with Agreement’s - Posted by Dan…IN.
Posted by Dan…IN. on November 01, 2000 at 22:28:24:
Earnest, I am a newbie and can’t wait to get started.
I would also like a copy of the Net lease and Option to buy, forms that you mentioned. How can I contact you by e-mail to get the forms?? Dan in IN.
Re: Need help with Agreement’s - Posted by Amy
Posted by Amy on November 01, 2000 at 20:45:07:
Ernest,
Any documents you send me would be great.
I thind my state charges sales taxes I will call the DMV tomarrow to find out.
I found A mobil home park for sale which is a little over my head right know but they are selling the 30 mobil homes on the lot sepretly and I am going to try and pick some up if I can.
Thanks for all your help.
Amy
Can I get one too??? Thanks!! - Posted by Ed Ortiz
Posted by Ed Ortiz on November 01, 2000 at 18:16:18:
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Re: Need help with Agreement’s - Posted by Ernest Tew
Posted by Ernest Tew on November 02, 2000 at 04:03:48:
My e-mail address is ErnestTew@aol.com
Re: Need help with Agreement’s - Posted by Ernest Tew
Posted by Ernest Tew on November 02, 2000 at 04:05:00:
Your forms have been sent.
Re: Can I get one too??? Thanks!! - Posted by Ernest Tew
Posted by Ernest Tew on November 04, 2000 at 17:27:25:
Ed: Your Net Lease and Option forms have been e-mailed to you, ready for downloading.
Re: Need help with Agreement’s - Posted by Amy
Posted by Amy on November 03, 2000 at 22:13:54:
Ernest,
I found out to day that there is no sale tax in MO on used homes. So is there differnt agreement’s that would be better for me to use?
Thank you for all your help.
Amy