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The Something Awful Forums > Discussion > Ask/Tell > Business, Finance, and Careers > Ballin' all responsible-like and shit! (help me with my decisions)
 
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Blackjack2000
Mar 29, 2010

moana posted:

I always need gruff opinionated remarks.

Is it really that straightforward then? What about if I refinanced for a 30-year mortgage on what I owed? I'd be paying like $1200 a month and renting it out at $2500, giving me like $15k for repair money each year. Still no?

No, I guess not. If I made like $300k profit and invested it at 4%, that would give me like $12k a year, and it would be much more liquid and I wouldn't have to pay for repairs. But I also wouldn't get the mortgage interest tax deduction and wouldn't own the property outright after 30 years. Hrm. God, this is complicated, but I'm glad that it's looking to be kind of a wash either way, makes me feel better about my ambivalence. You have to pay long-term capital gains on profits over $250k, I see. Didn't even consider that, great, another variable to consider.

It really is a no-brainer. Investors usually look for rent at 1% of the house value as a minimum, I personally wouldn't touch anything under 2%.

* # ¿ May 21, 2014 04:44
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# ¿ May 22, 2024 12:29
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Blackjack2000
Mar 29, 2010

 Do you mind if I ask about your writing business? I figured it would be in a thread somewhere in BFC but I haven't been able to find it.

* # ¿ May 22, 2014 03:15
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Blackjack2000
Mar 29, 2010

moana posted:


I post in the CC self-publishing thread occasionally, but I don't want to post too much info under my real name here. Feel free to PM me if you'd like to learn more!

Thanks, got a bit of an idea from the CC thread, but I'll upgrade and shoot you a PM.

* # ¿ May 22, 2014 04:38
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The Something Awful Forums > Discussion > Ask/Tell > Business, Finance, and Careers > Ballin' all responsible-like and shit! (help me with my decisions)