All Forum Posts by: Mike Rodriguez

Hi All! I have a quick question. Lets say I bought my building for $300,000 and want to sell for $600,000. My gain is obviously $300,000. However, to calculate my net gain, do I minus my down payment and closing costs from the $300,000? 

@Alexander Szikla Isn't that what most snowbirds do? They have a residence in a tax free state? 

My primary home is in texas and my salary comes from Texas, if I live in NYC do I need to pay the tax rate of new york? 

Hi! Do you use the mortgage payments you made in your calculation for net proceeds?

What formula do I use? 

Which lockbox did you use? @Joshua Jarrett 

All 5 units have tenants, should I just use lockboxes on each door? 

@Wayne Brooks That's true but there are tenants and how do I know when they go in an out of the property? 

Hi All! I'm moving to new york, however, I still have a solid salary come in from my home state texas. I want my income to be tax free from texas but live in New york, how can I do that? I read something about an 183 day rule? 

Hi all! I'm moving to another state however I have a home in my current residing state. I can sell the property as I'm an agent, however, I only need someone to do showings while I'm away? Has anyone done something like this before? Just trying to maximize my commission. 

@Basit Siddiqi ^

If I were to refi it and give that amount to my son, is there any tax for that? 

I may need the whole amount and I'm not sure a refinance would give me that.