House of the Day: 449 6th Street
If you want a great house in a prime location but need a little extra rental income to pull it off, this new listing at 449 6th Street just might be the ticket. The four-story brownstone is divided up into two duplexes. The listing doesn’t say what one of them would rent for, but we’re…
If you want a great house in a prime location but need a little extra rental income to pull it off, this new listing at 449 6th Street just might be the ticket. The four-story brownstone is divided up into two duplexes. The listing doesn’t say what one of them would rent for, but we’re guessing around $4,500. With rates where they are, that should help cover almost a million bucks of your mortgage. Given the asking price of $2,300,000, that should get you almost halfway there to covering your monthly mortgage nut.
449 6th Street [Corcoran] GMAP P*Shark
chicken, you’re starting to sound like BHO. This place may actually be attractive to someone who wants to buy a home…whatever additional income it provides probably won’t make or break the deal.
The kitchen and the shower curtain will.
you’re all missing the bigger picture:
if $4,500 is all that one of the duplexes can rent for then this place is waaaaay too expensive…
DIBS;
I found this, which supports your point.
http://www.allbusiness.com/personal-finance/individual-taxes/580625-1.html
Alright, I’ll buy the drink.
Chill out, will ya?
Benson, when it comes to this tax stuff, I rely on the tax software.
DIBS,
I do find it logically hard to believe one can net losses on that rental against ordinary income on an uncapped basis.
DIBS;
I’m not trying to break chops. I sold an investment property in 2005, and my accountant was adamant about this point (He’s a professor!).
Posted by: benson at February 9, 2010 4:29 PM
Those who can’t, teach.
No professor knows the tax code like a practicing CPA & CFP.
You owe me a drink.
DIBS;
You owe a drink (see answer 1):
http://answers.yahoo.com/question/index?qid=20090315124259AAjwMpk
Posted by: benson at February 9, 2010 3:14 PM
Anonymous post on a blog is all you can come up with?????
DIBS;
I’m not trying to break chops. I sold an investment property in 2005, and my accountant was adamant about this point (He’s a professor!).
He’s not only a CPA but he’s a CFP. He’s not wrong, benson just because you find some anonymous post on a blog from some guy from Missouri and think you’re right.
Gimmie a fucking break. He’s a CPA.
I sold an investment property in 2005 and that’s the way the accumulated losses were treated. I remember specifically because it worked out great because I had a huge bonus paid that year.
DIBS;
Find yourself a new accountant: he is wrong. We need to settle via 3rd party.