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Happy Dance!!

DaveNay

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Doin' the happy dance!!!!!!

WHOOOOOO!!!!!!


YIPPPEEEEE!!!!!!

:a1::a1::applause::dancing::thewave::jumpingSm

Now the real work begins.
 

DaveNay

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Cityboy said:
Ya gonna tell us why you're doin' the happy dance? :confused2:

Here's some clues...
 

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Melensdad

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Dave, I'm going to make a wild guess and say that one of the following happened:

A) Hell froze over
B) The Chicago Cubs won a game
C) Your project was approved about a year ahead of schedule and you are about to become a self employed horse boarding/arena operator, along with a large debtor, and see your red hair turn into gray hair!​
 

DaveNay

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B_Skurka said:
Dave, I'm going to make a wild guess and say that one of the following happened:
A) Hell froze over
B) The Chicago Cubs won a game
C) Your project was approved about a year ahead of schedule and you are about to become a self employed horse boarding/arena operator, along with a large debtor, and see your red hair turn into gray hair!​

A and B are closely related, and didn't happen.

As for C......hmmmmm....mayyyybeeeee. :a1:
 

Melensdad

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So Dave, what is it? Are you still doing the Happy Dance or did reality set in and you are now in panic mode realizing that your dreams will come true but now have figured out that the real work is about to begin.
 

DaveNay

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B_Skurka said:
So Dave, what is it? Are you still doing the Happy Dance or did reality set in and you are now in panic mode realizing that your dreams will come true but now have figured out that the real work is about to begin.

We close on the funding for our combination indoor arena/stall barn the week after next. The building will be a Cover-All very similar to the ones in the pictures I posted earlier. Ours is going to be 62' wide x 170' long. The indoor arena area will be 60' x 100', the the rest will be taken up by 20 stalls for student horses and boarders.

This project is also what the new water well be be used for that I mentioned in a different thread.

There is no doubt at all that the hard work is going to become even harder for the next six months during construction, and there after running the business. The good part is that we can afford the loan on our current income, and income from the business is not mandatory to make the payments. In our mind this gives us a bit of comfort in the whole process.
 

Melensdad

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DaveNay said:
The good part is that we can afford the loan on our current income, and income from the business is not mandatory to make the payments. In our mind this gives us a bit of comfort in the whole process.
:a1:

Congrats on the approvals! Planning and hard work do pay off!


As a side note: I am really looking at those buildings, I would like to see some more photos. I'm still undecided on what I need to do for some storage but those look like they might be the ticket.
 

DaveNay

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B_Skurka said:
:a1:

Congrats on the approvals! Planning and hard work do pay off!


As a side note: I am really looking at those buildings, I would like to see some more photos. I'm still undecided on what I need to do for some storage but those look like they might be the ticket.

What's your timeline? Ours should be up by late October, you could come take a look for yourself.
 

Cityboy

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Congratulations Dave!:a1:

:weneedpic Dust off the camera and start a construction thread. My daughter is a horse lover and will enjoy seeing your progress. Plus it might just motivate me to get off my butt and get the fence put up so she can finally get her horse.
 

DaveNay

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Cityboy said:
Congratulations Dave!:a1:

:weneedpic Dust off the camera and start a construction thread. My daughter is a horse lover and will enjoy seeing your progress. Plus it might just motivate me to get off my butt and get the fence put up so she can finally get her horse.

Without doubt, the entire construction is going to be well documented. I will probably host the construction picture on my own web site, but will absolutely keep updates posted here.
 

Melensdad

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DaveNay said:
What's your timeline? Ours should be up by late October, you could come take a look for yourself.
That is a good question, if I put one up it will be fast. I'd be using it as a temporary building. I have a guy who is trying to lease me space next door to my building, so I have some choices.
 

thcri

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B_Skurka said:
As a side note: I am really looking at those buildings, I would like to see some more photos. I'm still undecided on what I need to do for some storage but those look like they might be the ticket.


Bob,

I know a lot of farmers are putting up them plastic or rubber sheds around here. It is my understanding the reason they like them is the IRS can not charge you real estate tax on them. Now I am no accounting proffessional but seems to me if just temporary storage it is a good idea. And they handle the snow loads etc.

murph
 

Melensdad

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thcri said:
can not charge you real estate tax on them.
Murph, I already spoke with my building inspector in the town where my business is located, these buildings are taxable. At least at the size that Dave is building and even the more modest size I am considering. However I suspect that your are correct that a temporary structure might skate under the property tax radar. My local building inspector told me that if I have the structure up for 10 months or less, he would not issue a building permit so I would not pay property tax, but if it looked like I would keep it up for a longer period then he would consider it a permanant structure and it would be taxable. Bear in mind that these things seem to come in many quality levels and the higher quality, more permanant type, require frost proof foundations and pony walls. So I suppose it depends on the type of structure as to whether it is taxable? DaveNay probably knows more about this stuff as he has done all the research.
 

DaveNay

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B_Skurka said:
Bear in mind that these things seem to come in many quality levels and the higher quality, more permanant type, require frost proof foundations and pony walls. So I suppose it depends on the type of structure as to whether it is taxable?

General rule is if it has a foundation of any kind (even bare poles sunk in dirt with no cement), it is considered permanent and taxable. Many manufacturers of these types of buildings also sell versions that are gound mountable, and are anchored with essentially giant tent stakes. I believe you could get away with these not being taxed....but then again, most taxing bodies don't need much of an excuse to levie a tax, do they? :mad:

As Bob said, the higher quality ones are essentially no different from any other quality construction. The walls of ours will have 8"x8"x12' columns set 4' deep into concrete. It is not exactly "portable".
 

DaveNay

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thcri said:
I know a lot of farmers are putting up them plastic or rubber sheds around here. It is my understanding the reason they like them is the IRS can not charge you real estate tax on them. Now I am no accounting proffessional but seems to me if just temporary storage it is a good idea. And they handle the snow loads etc.

When did the IRS start taxing real estate??? :confused:

:yankchain:
 

thcri

Gone But Not Forgotten
DaveNay said:
When did the IRS start taxing real estate??? :confused:

:yankchain:

I guess they don't. I guess they have been hanging around my business too much lately.

I just know that a lot of farmers and without the foundation have a lot of them buildings around and they get by with the real estate tax on them is what I wanted to say.

murph
 

Melensdad

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DaveNay said:
Now the real work begins.

Dave, just curious as I know there has been some progress with this. What is the current status? Did the contractor show up to start the assembly of the building yet?

:weneedpic :weneedpic :weneedpic
 
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