Brett Smith
Capital Gains Tax on House Owned Less Than Two Years
Bought a house (our first) we’re not happy with and plan to sell before 2 years of ownership. The market is hot so we might make a profit.
How do I calculate the actual capital gains profit?
When I calculate taxes...
Michael Osborne
Are points worth it?
I am trying to determine if it is worth paying points down on my mortgage refinance. Basically the break even point is 37-38 months and it's a property I plan to keep long term as a rental. So I see not real reason no...
Barbara Chan
mentally unstable tenant trashed section 8 unit
We are contemplating buying a distressed property with a tenant that faced eviction because when he trashed his unit it became uninhabitable. Apparently his sister is stepping in to make repairs and keep him there. O...
Jonathan Jewell
Commercial Cash business mortgage note clauses? or suggestions
Hello all.I have a question when it comes to buying a commercial property also included is the selling of a cash business and the seller has not kept the best records, and a good portion of the income was left off the...
Jagadeesh Chandramohan
Depreciation Recapture
When you sell a rental property, depreciation recapture is taxed at higher rate.My question is do you owe the tax on depreciation recapture if you actually had no tax benefit from it during the years you were renting ...
Puri Indah
Buying Duplex, Selling 1 Unit
Hello BP'ers,I have a few questions and hoping you could give me some of the answers, if not all:Scenario:Selling a rental property for $1,200,000 and thinking of 1031 exchange it to a duplex at $2,500,000.Questions:
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Christopher Henning
Raising Rent?
Ok so we are looking at a property where the current rent being charged is $325 per month. The going average for the area is $500-$550. Without using a property manager, purchase the property we would want to raise ...
Michael Greer
Small loan = Higher closing costs?
Hello,I'm purchasing three 1b / 1b condos in a good area here in Ohio.I'm financing through a bank and received my final closing disclosures on one of the units.Purchase price is $40k. Loan is $32K.Closing costs are $...
Jason Slater
Refi Owner-Occupied as Primary or Investment Mortgage?
Hi all, I could use some help understanding the options and implications for my conventional refinance choices.For the last six years I have owned and occupied a two unit house in Massachusetts and rent out the other ...
Account Closed
Damage Deposit withheld - consequences?
How often do you find tenants give you reason to withhold damage deposits? One of my mates, who also rents out properties, has a particularly nasty tenant who is leaving his building after many years. Little to no dam...