Rich Weese
Update on Building home instead of rehabbing for profit.
27 February 2013 | 103 replies
Jon- it sucks!
John D.
Legal repercussions of renting your primary residence
22 June 2012 | 14 replies
Originally posted by Jon Holdman:Banks use the formula:net rental income = (75% * rent) - pitiBy that formula, you need the rent to be about one third more than PITI to be break even.If you were to buy a house with an OO loan, live there for a few years then rent it out you're probably OK even though the loan was written as an OO loan.
Sam Leon
TurboTax Schedule E - Days rented at fair rental value
14 April 2014 | 6 replies
I don't think this applies to your situation; as Jon said, it's for a property that does get used for personal use some of the time.
Stacey Olson
Subject To
11 October 2017 | 19 replies
@Jon Klaus I pulled up the Grant Kemp podcast and will listen to it.
Jon Huber
Telling my tenants that the apartment smells terrible - in the nicest possible way?
11 October 2014 | 18 replies
@Jon Huber Well, having a dog is not a protected class (except service dogs, which I'm guessing this was not).
Rich Schroeder
Tony Thompson
Brad Z.
Richard J.
RJ M
Capital Gain Tax - Short Term
29 March 2010 | 2 replies
To add to what Jon shared about the mess we call our tax system, short term capital gains are taxed as ordinary income, which means its at your normal tax bracket.If you resell a property in less than a year, the gain (which pretty much requires an accountant to figure out) is taxed just like if you were working a J-O-B.