All Forum Posts by: Karen Lundy

I think the 2008 crash is just still too fresh in millenial's minds. That student probably didn't only have issues with the lack of mobility, but also the risk. I'm all about investing in real estate, but I've had a good time because of luck as much as anything. I just happened to be at the right time in life to buy a house in 2010 and it paid off well. People who were at the right time in life to buy a house in 2006, some of them STILL haven't recovered to what the houses were worth at that time. Inflation's gone up 16% while the house value has only just recovered. So clearly, if you wanted to put your money in something that would hold its value up with inflation, that strategy didn't work, and that's something to consider, that it is sometimes a bad investment. Millenials were listening to post-crash horror stories for their formative adult years and I'm sure it's helped shape their view of investing.

If you're taking a mortgage out on your primary residence it will be interest that you can deduct on taxes I believe. I've been told up to 100k in home equity debt is deductible. It doesn't matter what you choose to spend that cash on. Can someone correct if that's wrong?

Well, I fell in love with Tucson when I was 17, its been about 20 years and its still my mission in life to move there someday :) though with career and such I'll probably be staying put for the foreseeable future. Not retiring soon, have about 30 years to go, but that timing works for riding out a mortgage :) will definitely need to get to know good property managers. I don't go there often but when I need to for business purposes like a property I'd like it to be somewhere I like going anyway.

Hi everyone, just joined. I own my primary residence and am looking to get an investment property or two, however I'm scared of my home market and also thinking ahead to where I might like to retire. Thusly I'm looking at Tucson, and in the meantime learning what I can about investing. Based on what I've learned so far, buy and hold and even finding turnkey rentals is probably the right match for my goals? So just looking to learn what I can about all of that, and the area. 

In my experience (though not in Tucson specifically) practically all HOAs ban short term rentals anyway, regardless of what the local government says. I'm told the banks look for that in the CCRs and require it as part of loaning out on a condo or other HOA controlled property. So will this change much?