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Updated about 7 years ago on . Most recent reply

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David S.
  • excelsior, MN
0
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5
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Loan Stratgey with New Tax Plan

David S.
  • excelsior, MN
Posted

I will be purchasing my first SF rental property.  My primary home is debt free, I have no loans whatsoever, have a good net worth.  I plan to take out a mortgage because I don't want to sell any equities and mortgage rates and low.  So I can either take out a loan against the rental or my primary home.  With the new tax laws I don"t expect to be filing a Schedule A.  So I can only get a tax credit on the interest if I take out a mortgage on the Rental Unit.  Do I have this right?  Any other loan ideas?

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