Orca4950 · 70-79, M
I/we have owed 2 rental properties in a small town. The first was even at rents under $800 generated good return and the overall taxation was ok.
The second property was rented until we decided to sell our second home in that same town. The second home didn't/hasn't sold. We did sell the second rental 2 years later. We did gain finacialy but the tax bill was significant.
Some tenants are ok and then become problems.
Talk to a reputable accountant.
The second property was rented until we decided to sell our second home in that same town. The second home didn't/hasn't sold. We did sell the second rental 2 years later. We did gain finacialy but the tax bill was significant.
Some tenants are ok and then become problems.
Talk to a reputable accountant.
kimmy159 · F
@Pherick Oh gosh those non disclosed issues must be such a hasstle!
This and the possible issues with renters is mainly why I’m doubting to do it 🥲 I’ve heared crazy stories about renters who wreck the place and there’s not much you can do about it here in Belgium. Can’t even evict them.
This and the possible issues with renters is mainly why I’m doubting to do it 🥲 I’ve heared crazy stories about renters who wreck the place and there’s not much you can do about it here in Belgium. Can’t even evict them.
ArishMell · 70-79, M
No.
It's becoming much harder and costlier to be a private landlord - tax affairs, legal responsibilities over matters like gas and electrical safety, difficulty regaining the property or selling it on with a tenant.
Second home? Certainly not. I do not like the concept of second homes especially as I live in a region suffering from far too many second-homes, holiday-lets, and the like.
It's becoming much harder and costlier to be a private landlord - tax affairs, legal responsibilities over matters like gas and electrical safety, difficulty regaining the property or selling it on with a tenant.
Second home? Certainly not. I do not like the concept of second homes especially as I live in a region suffering from far too many second-homes, holiday-lets, and the like.
thepeculiarpanda · 36-40, M
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TheGreatLeveler · M
kimmy159 · F
@TheGreatLeveler I'm also doubting investment wise. The company I work for is situated in Mechelen, but I live close to the French border in West-Flanders, so I always need to drive 2h to work and then 2,5h back. Michel also works both for Pistoolhaven in NL and for Oostende in West-Flanders. We have all our family in West-Flanders as well, so we don't want to move permanently to the big cities.
In my ideal future, I'm contemplating whether it would be smart to buy an apartment in Mechelen area and get a room mate or something XD I'd only be there maybe twice a week. There's also maybe the airbnb thing, but it would require a lot of management, so I'm not sure those things are worth it.
We're also not very experienced in stocks yet so we haven't invested yet until I can learn a bit more about it first.
I do have life insurances that have pretty nice interests and I'm already saving a lot for Neil in some kids accounts with safe interests, so I'm trying to figure out the next investments haha
In my ideal future, I'm contemplating whether it would be smart to buy an apartment in Mechelen area and get a room mate or something XD I'd only be there maybe twice a week. There's also maybe the airbnb thing, but it would require a lot of management, so I'm not sure those things are worth it.
We're also not very experienced in stocks yet so we haven't invested yet until I can learn a bit more about it first.
I do have life insurances that have pretty nice interests and I'm already saving a lot for Neil in some kids accounts with safe interests, so I'm trying to figure out the next investments haha
Starcrossed · 41-45, F
Starcrossed · 41-45, F
@LamontCranston now if only I could to back in time
kimmy159 · F
@Starcrossed Is the land very expensive there?
WonderGirl · 41-45
kimmy159 · F
@WonderGirl It's nice if you can buy the house you grew up in ^^ Most people have a sentimental bond with it. I personally don't, maybe because it wasn't that great of an atmosphere mostly ;p Or maybe it's just because it's really not such a beautiful house my parents live in haha
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kimmy159 · F
@SW-User It sounds awesome but also scarily remote haha 😁😁
I personaly would love an ocean view but I hate how crowded the areas where you find them usually are. (Oh and the absurd price for those too lol)
I personaly would love an ocean view but I hate how crowded the areas where you find them usually are. (Oh and the absurd price for those too lol)
This message was deleted by its author.
kimmy159 · F
@SW-User Or a really pretty lake too!
When I was in Italy, I saw such a beautiful one 🥰
Are you able to hunt? I’m guessing it might be necessary if you decide to go live scarily remote in the mountains some day ;p
When I was in Italy, I saw such a beautiful one 🥰
Are you able to hunt? I’m guessing it might be necessary if you decide to go live scarily remote in the mountains some day ;p
LamontCranston · M
LamontCranston · M
Justafantasy · M
XDHyperGirlXD1 · 31-35, F
Bklynbadboy12 · 31-35, M
kimmy159 · F
@Bklynbadboy12 Do you rent it out the second one? ^^
deadgerbil · 26-30, M
SW-User
@deadgerbil I will pay for them to go to Yeshiva school
deadgerbil · 26-30, M
Justenjoyit · 61-69, M
Moneyonmymind · 31-35, M