Anonymous
10/19/2013 11:31
Subject: Re:Pay off investment properties or buy new ones - what would you do?
Anonymous wrote:Anonymous wrote:Congrats to you OP! You've accumulated a nice portfolio. I would keep acquiring properties. In this area, we seem to be recession proof. If you look at the jobs forecast (50,000 new jobs a year for the next 10 years), there will be a demand for housing. We are also at historically low interest rates so I think in 10 years you'll be very thankful that you invested with fixed rates around 4%.
You mentioned you come back once a year for R&R. You probably already do this, but be sure to write off the cost of the trip and hotel when you come back b/cs you're inspecting the properties and it's a legitimate tax deduction. Good luck to you!
They can't do this - the government pays for R&R.
OP here, and this is generally true. But they give us once in 3 years, usually, and the other two we pay for. So we will deduct those. Great idea PP. (Side note: they just took R&R away from our current post because it's considered pretty cushy. So never let it be said that the government doesn't try to find ways to cut costs!
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Anonymous
10/19/2013 10:33
Subject: Re:Pay off investment properties or buy new ones - what would you do?
Anonymous wrote:Congrats to you OP! You've accumulated a nice portfolio. I would keep acquiring properties. In this area, we seem to be recession proof. If you look at the jobs forecast (50,000 new jobs a year for the next 10 years), there will be a demand for housing. We are also at historically low interest rates so I think in 10 years you'll be very thankful that you invested with fixed rates around 4%.
You mentioned you come back once a year for R&R. You probably already do this, but be sure to write off the cost of the trip and hotel when you come back b/cs you're inspecting the properties and it's a legitimate tax deduction. Good luck to you!
They can't do this - the government pays for R&R.