Toggle navigation
Toggle navigation
Home
DCUM Forums
Nanny Forums
Events
About DCUM
Advertising
Search
Recent Topics
Hottest Topics
FAQs and Guidelines
Privacy Policy
Your current identity is: Anonymous
Login
Preview
Subject:
Forum Index
»
Money and Finances
Reply to "Financially speaking should we sell or keep our condo as a rental?"
Subject:
Emoticons
More smilies
Text Color:
Default
Dark Red
Red
Orange
Brown
Yellow
Green
Olive
Cyan
Blue
Dark Blue
Violet
White
Black
Font:
Very Small
Small
Normal
Big
Giant
Close Marks
[quote=Anonymous]Run the numbers tax-wise. For a rental property, your cost is only the interest (not principal) portion of your mtg payment, and then you can take depreciation on the property. So even if you were cashflow postive (sounds like yo'ure close to it), you may be at a loss tax-wise... which actually isn't a bad thing on your tax bill. If you use a tax program, pop in some numbers to paly around with it. Remember rents shoudl go up over time, as will your prop taxes, but at least in my experience, rents go up faster. Also realize you'll pay higher prop taxes if the property is not your primary residence (at least in MD and DC.. prolly the same in VA), and technicall your mortgage loan rate may change as it's now an investment property (but in reality, the mtg company wont' check as long as you pay on time).[/quote]
Options
Disable HTML in this message
Disable BB Code in this message
Disable smilies in this message
Review message
Search
Recent Topics
Hottest Topics
