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All Forum Posts by: Anette Colcock

Anette Colcock has started 1 posts and replied 3 times.

We got a quote from them a couple of years back, we didn't end up doing the renovation/addition to our house so never got to use them. Clay was professional and on time for the meeting, gave us a detailed quote. Not the cheapest but not the most expensive either. Not sure if this helps, but I kept their contact info for future use.

I have a question that I am trying to get an answer on... purchased a primary residence 3 yrs ago, put 65% down on the house due to proceeds from another primary residence sale. Have since then acquired three rentals, now considering doing a cash refi on my primary residence to pull out some of the original cash down to use the money to invest in additional properties. Question I have is: can I deduct the interest payments from pulling cash out in my taxes? It was my money to begin with and I am not using any increased value, I’m pulling out less than I put down, so if I had done this from the start I would automatically have been able to deduct the interest. This money may sit in an investment savings account for 6 to 12 months before acquiring a property. How will this be looked upon by tax powers that be?