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Banging my head...

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Anonymous
Not applicable

Re: Banging my head...

Actually when renting out a property you get to take expenses against the income including the real estate taxes, mortgage, insurance, and repairs. For most folks this looks like a loss on the tax return lowering your tax liability.
Message 11 of 13
IOBA
Senior Contributor

Re: Banging my head...

Anyone have something for a headache?

 

Update - we got past the zinger.  I tell ya, this has been one head banging experience.  One step forward, two steps backwards.  Without going into the all the details, I will sum it up that I have learned a lot through the experience.  I have had to do a lot research into laws, county ordinances, and real estate transactions.  

 

We have reached a stale mate.   There are terms/restrictions on this deal that weren't on the previous ones.  I offered a really good compromise that the lender was all for.  The ball is in the sellers court.  I asked them to think about it and to call me back.  Not sure if they will.

 

But if nothing else, I learned a lot and I realized my boundaries for purchasing a property that I love.  This was a logical and a financial decision and not an emotional one (despite loving the land.)

 

So....balls in their court, not likely going to close...but who knows?  Maybe they will come around and agree to the compromise.  Smiley Happy

 

 

Message 12 of 13
krielly
Established Contributor

Re: Banging my head...

can't help but feel curious about all "the details".........call me nosy.........lol!

 

K


You can't have your cake and eat it too. But you can dip your finger in the bowl and lick the icing!
Message 13 of 13
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