Posted by admin | Posted in vacation rentals | Posted on 12-04-2010
Tags: design, home, housing, how old to purchase condoms, how to purchase condom online, how to purchase condoms, lease purchase condos atlanta, lease purchase condos in atlanta, legal age to purchase condoms, offer to purchase condo, offer to purchase condominium, online purchase condom, purchase condo in florida, purchase condoms, realestate, shopping, where to purchase condoms
I want to rent out my current condo. Should I purchase another property or rent an apartment?
I would like to rent out my current 2 bedroom condo and either purchase another condo (1 bedroom) or rent an apartment. Are there any tax advantages that would make me lean more one way than the other? Because of the current market conditions, I am unable to sell the property but it’s in a transitional neighborhood and I feel in about 5 years the value will increase greatly.
You will need to talk to a CPA as only they will be able to tell you what your tax advantage would be for renting.
Also please know that when renting a piece of property, you would have to decide whether you want to hire a property manager or do it yourself. The property manager does all the renting, screening, collecting rent, doing repairs, etc…whereas if you do it yourself, you have to learn as well as do all the repairs and take the calls in the middle of the night.
As far as buying a new condo.You would have to qualify for this payment as well as your new payment if you don’t have 2 years experience as a landlord. Investors would also like to see at least 6 months of assets, most likely to cover both payments.
I know this doesn’t sound real encouraging but guidelines has changed drastically.
buyingahome
www.buyingahomehowto.com
What’s a Condo?