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10 August 2024 | 4 replies
Consider housing hacking after your first year in college.
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5 August 2024 | 8 replies
my goal is always to have passive income from rental properties but right now I’m thinking more of being able to pocket cash and later make plans on rentals.
9 August 2024 | 5 replies
I own three single-family houses that I rent, and I've been managing them myself since I acquired the first one in 2011.
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6 August 2024 | 2 replies
I own a victorian house that was fully gut renovated/modernized 18 years ago.
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7 August 2024 | 8 replies
However, the remaining gain not covered by the Section 121 exclusion is taxed at your ordinary income tax rate.Here's how the calculation typically works:Calculate the Depreciation Recapture: The $9,000 of depreciation would be recaptured at a maximum rate of 25%, which is $2,250 (25% of $9,000).Calculate the Remaining Gain: Subtract the excluded amount (Section 121 exclusion) from the total gain: $100,000 (Total Gain) - $9,000 (Depreciation Recapture) - $250,000 (Section 121 Exclusion) = $0Tax the Remaining Gain at Ordinary Income Rate: Since the remaining gain is $0, there would be no additional tax on the gain.So, based on this calculation, it seems like there should not be any additional tax owed after taking into account the Section 121 exclusion and the depreciation recapture at a maximum rate of 25%.It's essential to review your calculations and ensure that you are accurately applying the exclusion and depreciation recapture.
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10 August 2024 | 10 replies
You can handle showings with a lock box or open house.
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6 August 2024 | 5 replies
Always make sure to adequately screen your tenants (background check, income verification, credit report, etc).2) In the context of House Hacking, with a SFH are you considering renting out by the room?
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9 August 2024 | 19 replies
They never clogged this bad boy.Smaller house should be ok with one bathroom, but I would want a bigger house.
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9 August 2024 | 5 replies
how can I utilize my 6 houses and cross collateralize ?
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6 August 2024 | 5 replies
At this point, we are three weeks away from closing on our first house (August 22nd).