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Building A New House With Cash Money

 
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Old 11-16-2014, 12:30 PM   #41
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Re: Building A New House With Cash Money


If you pay for a house in cash, think of all the money you can save not paying a mortgage.

I would build the house and pay cash, just get bids from subs like you normally would and let the subs know you will be able to pay quickly.
You will want to show your accountant the check stub from the subs you paid for the work on the house when tax time comes.
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Old 11-16-2014, 12:36 PM   #42
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Re: Building A New House With Cash Money


Well, let us know what happens.
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Old 11-16-2014, 03:33 PM   #43
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Re: Building A New House With Cash Money


So if you pay cash for all your subs, are going to accept getting no receipt from them for the work they did?

If you sell the house down the road you could end up paying in capitol gains what you think you save today.
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Old 11-16-2014, 06:08 PM   #44
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Re: Building A New House With Cash Money


I always like these questions. I can see it now, sub gets a cash payment and screws the job. HO tries to take the sub to court, but the judge finds they were conspiring to engage in tax fraud, so there is no way to collect.

Quick payment should get you enough of what you want.

I know people who only want to work under the table. They tend to be poor craftsmen and deadbeats - either can cause problems for you.

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