Rufuss likezzz it here, and I'm next to a lake that I'm still hunting fish at...

BY THE WAY: Message ought to get there this week.

Does Oregun restrict trail riding?


My eyes are set on Texas

 

We have thousands of square miles to ride on Dutch......

Just got back from town, and I've got good news, and better news! The good news is the contracts are signed and we're waiting for their reply. The better news is we qualify for a 0 interest loan that will take care of all the new wiring, heating and AC system, the new on demand hot water system, the new kitchen, the bathroom, and the insulation! The 0 interest loan will not have to be paid back untill we sell the place. That will not happen for a looooong time. My son (31) is on the contract also, so after the wife and I "pass on" he still won't have to pay it back unless he sells out! Not a bad deal at all.......

 

Hey Don, Is all of this part of some Fed redevelopment program or is it locally based? I'm glad to hear of your participation.

 

Strictly a local program. With the hundreds of wind turbines coming into the county the County is flush with cash from the taxes. We have a great county government here, both of the county commissioners are friends and customers of mine which doesn't hurt......

Unlike the rest of the state our county has been investing their new found tax money on new development here. Two new industrial sites, and finishing up a new Port on the Columbia.

 

Must be nice to live in a well-managed place!

That is ONE SWEET DEAL!!!!

Will that no-interest loan work to fix additional units, or must you actually intend to reside there?

Pop

 

You have to reside in the home to qualify for this type of loan. I did have a talk with 2 of the 3 partners this morning, and depending on how we work on this project we've talked about a joint venture on some of the other houses. There are about another half dozen that are half finished that with a little work could be put on the market........

Unlike the western half of Oregon, most cities/counties in Eastern Oregon are very conservative, and do a good job for the residents. With Oregon having a balanced budget amendment they state CANNOT spend more than they get in taxes........

 

One more Don. Does the state still have that goofy tax on "gross sales"? Which , if they do, might explain the developers' willingness to sell unfinished at a lower gross sales price? Just speculating as to why the partners aren't finishing these up themselves. Just seems pretty lucrative to me.

 

There are three partners in the LLC. Two of them own other companies, and one is a "super" contractor that does million dollar homes. None of them have the time to really develop this project they way it should be. They bought this place for practically nothing, mainly for a long term investment.

The gross sales tax gimmick doesn't apply to real estate...........

 

thanks again Don and I really wish you well with it. Good to hear of a positive outcome for a change.

 

Thanks Ed. With all the crap I've had to deal with the past 4-5 years it's about time for some good things to happen!

 

Don with those kind of deals if I could find work out there I would get out of this LIBERAL county. I like the stealhead and salmon fishing on the coast but the rest of it I was taught not to talk that-way!

 

Don, have met you meet the lady I was telling you about, lady with a broken shouder? She said that she was the first to buy on the base there.

 

Haven't met anybody up there yet..............

 

How many houses have been bought?

 

9 or 10 out of 26.