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If i buy an investment property for $280 000and rent it out for $300 per wk, should i pay interest only? |
will i get money back in tax each year? around how much? seriously? what interest rate are you paying? what are you putting down on the property? what about the property taxes? insurance and all other maintenance costs that you will occur? If you pay $280,000 the 300 per week will not be enough to cover the interest, taxes, insurance. And if you don't pay more than the interest you are not making an investment. You will only get money back in taxes if you have paid in more than is due. This investment would most certainly be a loss but unless you have some income it won't help you on your taxes. |
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If your mom is still helping to support you and/or providing a place for you to live, then you should make sure you really want it before upsetting her about spending money which you only have due ... You'll get the best interest rate if you put it into a ING online account. Online banks pay much higher interest; you just want to be sure you have a reputable one. ...This market is going to pick up eventually. Either hold on to it and pray or possibly do a short sale with the bank. ...My boyfriend works in the industry. Always check that the company is FSA regulated (this is in the UK). If it is not , stay clear of them !The reason why they want your money is because they charg... Several people here have some good information so let me just add a couple of things. Paying some part of closing costs or loan fees for a buyer is not unusual and often part of the negotiation. S... 3 decades is a LONG time. The long term trend for real estate since darn near the beginning of man has been up. There have been intermitant disruptions in the trend. After the plague hit Europe,... Only a fool would be interested in your offer. Paying $300K to get $20K plus 1/2 profit of future appreciation on a house in a down market you claimed worth $900K with $650K loan. ...Thats more of an finanical advisor, which I think you need a licence for. If everyone agrees to buy a stock, and your the one who just handles the account and does all the trades, thats fine. ... |
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