Taxes on Mobile Homes


#1

You gotta


#2

Sell it to someone in Texas, & then buy it back.


#3

Jefferson,

They key to any of these problems is to keep the sale quite in the eyes of the taxing authority (and the public for that matter).

On a piece of land or park where there is is a deed you can structure the deal in many states where the seller conveys the property to an entity (trust, land trust, LLC, s-corp, all depends on the state you are doing business in and your holding and exit strategies) and then purchase the entity that now owns the asset from the seller. Of course you need to pick up the tab since the seller may see no reason to cooperate in this way unless you can show him/her that it benefits them too (and it can but again everything changes state to state).

Explore these solutions on your own and then take them to a local attorney for a blessing. It’s cheeper this way. If you need help with finding these solutions you can hire a guy like me to help you. I’m probably less expensive in the long run since I employ these ideas in my business practices everyday. But, you will still need an attorneys blessing as I do not practice law and I will not be giving legal advise, just business advice that has legal implications.

The key again is to have the SELLER convey to some entity (for $10 and other good and valuable consideration) that the SELLER is the initial owner - then buy the new entity that owns the asset.

When this does not work I have also had success converting purchase and sales contracts to option contracts. I have also been successful petitioning property appraisers to re-evaluate the property. But these solutions come with more risk since you are still relying on the property assessor to make the final judgement. I would not recommend this route if you are having success keeping your business dealings quite. I don’t know who to give credit to for the following but the goal is to “own nothing but control everything”.

Hope you like,

Karl

P.S. - on small assets like MH’s it may not be worth the bother - you determine what is worth it and what is not.