Housing collections (was: other Utah collectors?)
legalize at xmission.com
Thu Dec 29 20:20:43 CST 2005
In article <006c01c60cdc$bedbc490$33406b43 at 66067007>,
"Keys" <jrkeys at concentric.net> writes:
> I second that, storage eats my lunch and more.
This is why my friend was interested in purchasing a space instead of
leasing one -- as the owner of the mortgage, you get that interest tax
deduction. However, he is in the lucky financial position of being
able to afford such a proposition.
Me, I could afford the vacant lot, but probably not an existing structure,
which is why I was considering an alternative housing style construction
(Dennis Weaver "Earthship" style) to keep the construction costs low and
give an additional novelty aspect to the building. With some alternative
construction techniques the build cost can be as low as $15K.
Additionally, it may be helpful to form a 501(c)3 as the entity
through which you manage your collection if you're going to go to the
whole trouble of purchasing land or creating structures to house it.
That changes the tax situation dramatically and suddenly you can apply
for grants from places like the Bill & Melinda Gates Foundation for
historic preservation funds :-).
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