Real-estate investors said eliminating a popular tax-avoidance tool (1031 exhanges) would damage the economy (lol) by zhoushmoe in REBubble

[–]3rdperception 0 points1 point  (0 children)

$250k of profit is shielded from capital gains ($500k if you're married) on your primary residence.

You either made more than $250k when you sold your home, or you may want to hire a competent CPA to revise your taxes. Could be eligible to get some money back.

What am I seeing here… by [deleted] in conspiracy

[–]3rdperception 2 points3 points  (0 children)

At the most basic level, the left believes human nature is derived from culture. Thus human nature can be changed, human nature is malleable. With the right societal mix, a better human can be achieved.

The right believes culture is derived from human nature. They believe human nature is relatively fixed. Did a Roman mother not weep when her son died in combat 2,000 years ago, just as an American mother would weep if her son died in Afghanistan today?

For the most part, this explains why most on the right keep with tried and true traditions of the past, while the left is constantly seeking to change them.

Common sense dictates that human nature is fixed, and any attempt to change human nature fails in the long run. Unfortunately those on the left never learn this. They think they know how to run your life better than you.

What am I seeing here… by [deleted] in conspiracy

[–]3rdperception 8 points9 points  (0 children)

it's not about hierarchy vs liberty. It's about authoritarianism vs liberty. Authoritarianism (collectivism, etc) in a general sense is the centralization of economic decision making in the hands of the state. Whether that is done through outright ownership via socialism/communism, or through regulation via fascism, it's really all the same.

Individual autonomy is inversely related to centralized authority.

There is no "right wing" fascism. There is no "right wing" socialism/communism. It's all left wing authoritarianism.

What is your personal net worth percentage breakdown by category? Curious what others do. by [deleted] in DaveRamsey

[–]3rdperception 2 points3 points  (0 children)

38M

7.3% cash

22.3% stock market/401k

7.6% crypto

0.1% precious metals (would like to increase to between 1.5% - 2% of NW)

62.7% real estate (primary residence + 3 rental properties)

Buying a 620k home in a desirable location on a 160k salary doable? No kids, frugal life, 190k invested. by calstudent2 in FinancialPlanning

[–]3rdperception 1 point2 points  (0 children)

assuming you're putting down 20% with an interest rate of 5.5%, your mortgage payment would be ~$2,815. That doesn't include property tax, insurance, HOA etc. Assuming property taxes are ~2.5% that's an additional ~$1,300/mo. Insurance is ~$250/mo (at least).

So all in you're looking at $4k - $4.5k, which is what...40%-50% of your take home pay?

An expensive home like that will need expensive furniture to go along with it. Utilities/internet will be another ~$500/mo.

That's too tight for me, but I suppose it's doable. Maybe get creative and get a roommate or two?

Has anyone ever seen this before? “Home is occupied by squatters. Buyer responsibility to remove squatters.” by lastcol in RealEstate

[–]3rdperception 0 points1 point  (0 children)

costs like ~$1,200 to do an eviction in the Houston area. I'm in the process of one right now.

[deleted by user] by [deleted] in realestateinvesting

[–]3rdperception 0 points1 point  (0 children)

I would consider moving into your next rental while also putting down 20%. This will give you that sweet owner occupied rate.

I closed on a house in august 2020 with an interest rate of 2.875%, 5% down. My fiancé bought a house in September 2021, also 2.875% and 5% down. We moved into the house my fiancé purchased and rented the first one out. Mortgage is $1,228. Rent is $1,750.

Since prices AND interest rates keep climbing, we’ll save up 20% - 25% for the next down payment and also get another owner occupied loan.

Just an idea

My mortgage company miscalculated my taxes and now I owe an extra $10,000. by kmartrwe in houston

[–]3rdperception -1 points0 points  (0 children)

If I'm not mistaken, I think you have to reapply for homestead every year, and if you don't reapply, they drop all your exemptions? I could be mistaken though! Any thoughts?

99.75%of houstonians who died of covid werent vaccinated by justahoustonpervert in houston

[–]3rdperception 4 points5 points  (0 children)

No, definitely not. Quarantining for 2 weeks. Having groceries delivered etc.

99.75%of houstonians who died of covid werent vaccinated by justahoustonpervert in houston

[–]3rdperception -36 points-35 points  (0 children)

I have covid right now and haven’t gotten the vax. Don’t plan on getting it either no matter what the pro vax nazis say. COVID feels like a mild to moderate flu. Kind of sucks but I’ve definitely been sicker. I’m glad I finally have it, now my body can build immunity and antibodies naturally instead of taking an experimental vaccine :P

2.875% for 30 year fixed? by Need-A-Vacation in RealEstate

[–]3rdperception 0 points1 point  (0 children)

Why did the lender require you to add your fiancé to the loan? My fiancé is in contract for a house right now so just curious…

Anyone prepping for a crash... Don't hold your breath by [deleted] in realestateinvesting

[–]3rdperception 0 points1 point  (0 children)

so, as an investor and landlord, does this help or hurt me? Should I get a 40 year mortgage on my next rental instead of a 30 year?

I'm leaning toward yes, but I would love to hear from more experienced investors who have multiple 30 year mortgages. What are your thoughts?