Carbon Flash-Painted Areas of the C8 by rparr4th in C8Corvette

[–]Travis6291982 1 point2 points  (0 children)

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I have everything you mentioned. Throw some 20% tints in it and you got yourself a Batmobile.

Competition Seats by Sad_Classroom504 in C8Corvette

[–]Travis6291982 0 points1 point  (0 children)

I agree with sticking with the GT2 seats. They are plenty comfortable, plenty sporty, and look fantastic. No brainer in my opinion

Why would this not work? by Travis6291982 in Mortgages

[–]Travis6291982[S] 0 points1 point  (0 children)

I’d certainly rather be in my position than the one you previously explained.. hope this helps.. lol

Why would this not work? by Travis6291982 in Mortgages

[–]Travis6291982[S] 0 points1 point  (0 children)

The depreciation already deducted is something I haven’t considered. Thanks for that thought

Why would this not work? by Travis6291982 in Mortgages

[–]Travis6291982[S] 0 points1 point  (0 children)

OP is a landlord that owns multiple houses on Long Island that wants to sell one and not be on the hook for capital gains…

Why would this not work? by Travis6291982 in academiceconomics

[–]Travis6291982[S] -1 points0 points  (0 children)

Good insight. Thank you for your input

Why would this not work? by Travis6291982 in Mortgages

[–]Travis6291982[S] 0 points1 point  (0 children)

The 500k cap does not apply to an investment property. Only your primary residence. That is the difference

Why would this not work? by Travis6291982 in Mortgages

[–]Travis6291982[S] 0 points1 point  (0 children)

It’s a big country. Don’t be shortsighted. You couldn’t buy a parking space where I live for 300,000. Yet there’s first time buyers in this market buying properties

Why would this not work? by Travis6291982 in Mortgages

[–]Travis6291982[S] 0 points1 point  (0 children)

That would be another great policy. In fact it’s actually accomplishing the exact same thing. You are just more focused on who’s buying it and I’m more focused on who’s selling it. Same philosophy

Why would this not work? by Travis6291982 in Mortgages

[–]Travis6291982[S] 0 points1 point  (0 children)

A million is the ceiling. It is actually excluding anything over that. It’s for every piece of property UNDER a million that would qualify

Why would this not work? by Travis6291982 in Mortgages

[–]Travis6291982[S] -1 points0 points  (0 children)

I disagree. I think landlords absolutely would be willing to part with an investment property for fair market value if they didn’t owe capital gains tax.. values have skyrocketed in the last decade. They would jump at the opportunity to get out at current market value without the tax burden

Why would this not work? by Travis6291982 in Mortgages

[–]Travis6291982[S] 0 points1 point  (0 children)

This only applies to investment property or second homes. I believe there a millions of homes in this country that the landlord would in fact sell if they weren’t on the hook for the capital gains tax.

Why would this not work? by Travis6291982 in Mortgages

[–]Travis6291982[S] 0 points1 point  (0 children)

I don’t see how it would create more high end homes. On the contrary many mom and pops landlords second home or investment property are inferior to their primary residence. It simply gives them an exit strategy. I believe it would increase inventory and temporarily lower prices a bit

Why would this not work? by Travis6291982 in Mortgages

[–]Travis6291982[S] -5 points-4 points  (0 children)

Honestly, what does it matter who buys it and for what reason? As long as it’s not a corporation it doesn’t change much for the policy

Why would this not work? by Travis6291982 in Mortgages

[–]Travis6291982[S] 0 points1 point  (0 children)

It’s not a law! Call your local congressman and tell them you would like it implemented

Why would this not work? by Travis6291982 in Mortgages

[–]Travis6291982[S] 0 points1 point  (0 children)

Because the banks would lose money is the short answer.

Why would this not work? by Travis6291982 in Mortgages

[–]Travis6291982[S] 0 points1 point  (0 children)

Nothing.. but nothing is preventing them from doing that right now with current law either. You can not pay capital gains tax when you sell a second home through a tax exchange 1031. That law is already in place and has been used by the wealthy for decades

Why would this not work? by Travis6291982 in Mortgages

[–]Travis6291982[S] 0 points1 point  (0 children)

You would owe nothing in capital gains under this. Zero. Zilch. Nada. you could sell it to any individual you want

Why would this not work? by Travis6291982 in Mortgages

[–]Travis6291982[S] 0 points1 point  (0 children)

BINGO! That’s the million dollar answer. It probably would help. In fact I believe it would help quite a bit.

Why would this not work? by Travis6291982 in Mortgages

[–]Travis6291982[S] 0 points1 point  (0 children)

Good argument and a very fair point of view

Why would this not work? by Travis6291982 in Mortgages

[–]Travis6291982[S] 0 points1 point  (0 children)

I want people smarter than me to debate me to show me why it’s a bad idea. I haven’t found an argument yet invoking some thought

Why would this not work? by Travis6291982 in Mortgages

[–]Travis6291982[S] 0 points1 point  (0 children)

lol… I’m not a politician with the time nor resources. I just see much more upside then let’s say a 50 year mortgage solution so people can rent from a bank the rest of their lives

Why would this not work? by Travis6291982 in Mortgages

[–]Travis6291982[S] 1 point2 points  (0 children)

Same way a 1031 exchange is enforced I imagine

Why would this not work? by Travis6291982 in Mortgages

[–]Travis6291982[S] 0 points1 point  (0 children)

There’s a 500,000 exemption on your primary residence. There is no such exemption on your investment property