Would you invest in a 2nd propery if you had the money?
Why or why not?
What would you do with the second one? Rent it out or keep it for yourself?
What would you do with the second one? Rent it out or keep it for yourself?
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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.