Consumption and Real Estate
My wife and I are thinking of buying a vacation/rental home in Big Bear.?
Question : My wife and I are thinking of buying a vacation/rental home in Big Bear.?
I’m trying to figure out what we can afford. Can anyone explain to me how to calculate my tax benefit/writeoff for the interest on the mortgage? This would be a second home (if that matters). I would need to know this in order to understand what we can afford (i.e. how many additional exemptions can I take on my w4).
also, if anyone knows a good, reasonable rental management company in Big Bear, that would be helpful too. I talked to an agent and he said they average 30-32% (OMG!!!)
vacation rental management
Best answer:
This entry was posted by admin on December 30, 2010 at 9:58 am, and is filed under Property Management. Follow any responses to this post through RSS 2.0.You can leave a response or trackback from your own site.
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You do realize it is not legally a second home if you rent it out? It is not legal to rent your second home, you just made it investment property.
It is really tough to rent those puppies out, 30% is not unreasonable.