Frank & All,
I have a few questions that i could use some help on. I am interested in only flipping leases on interstates right now.
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Most counties in my area require a set of plans to get the permit. How can I get a set of plans? Does this mean the billboard company has to build the mono-pole that i submitted drawings for or can they change it?
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I am also having trouble figuring out the taxes on flipping leases. What kind of taxes will flipping leases require me to pay? I have talked to my accountant and he said it depends on how I set it up but it could be either capitol gains tax or a self employment tax. What is the best way to set it up? Also is there a set percentage that i can expect to pay so I can set up a budget? I know that capital gains is at 20% right now and most likely on the rise but is there other tax that i would have to pay if I went that route.
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Lastly I need a good land owner contact letter and a ground lease agreement. Frank I realize that these are in your homestudy packet and I would gladly buy it and plan to if I can get 1 lease/permit sold. I just don’t have the disposable income right now as me and my wife are newlyweds and on a tight budget. So any help is greatly appreciated.
Thank you