ST Alpha - "Could you rent out your house, and then put the 40k toward a new one? -- nm" (Reading a Post)

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In response to "If there was I doubt there is now. It's really rigid at the moment. No bank wants to take a risk on default and losing money -- nm" by El Pollo Rojo Loco

Could you rent out your house, and then put the 40k toward a new one? -- nm

Posted by El Pollo Rojo Loco (aka redmond) Jul 29 '11, 16:18

(No message)

Responses:

that was the original plan but now that i'm not working consistently (and might not be for another year or so) - kare Jul 29, 16:20 25
- Rent the old house and then rent a new house for y'all. -- nm - TFox Jul 29, 16:28 9
  - hmmm. -- nm - kare Jul 29, 16:29 8
    - It would have a fair number of perks. Less maintenance, ability to make a change when needed... -- nm - TFox Jul 29, 16:31 7
      - just looked at prices where we (well esp. i) would like to move and... damn. very high. -- nm - kare Jul 29, 16:35
      - Does she still get to keep the mortgage deduction on her house if she isn't living in it? -- nm - El Pollo Rojo Loco Jul 29, 16:33 5
        
        No, it has to be your primary residence. -- nm - MojaveMeg Jul 29, 16:35 3
        
        so i guess the answer is: patience, grasshopper. sigh. -- nm - kare Jul 29, 16:37 1
        
        This! - El Pollo Rojo Loco Jul 29, 16:44
        
        Once you rent it becomes investment property and things like depreciation become deductible - against the rental income. -- nm - MojaveMeg Jul 29, 16:37
        
        You're asking a filthy renter questions above his pay grade. -- nm - TFox Jul 29, 16:35
- I am in the same spot. My GF has a condo that is upside down. It's 1BR 650 Sqft - El Pollo Rojo Loco Jul 29, 16:22 14
  - but you're moving in together? that is awesome! -- nm - kare Jul 29, 16:28 1
    - Thanks everyone. - El Pollo Rojo Loco Jul 29, 16:31
  - Congrats! -- nm - psilotum Jul 29, 16:28 2
    - Mine is for knocking up your gf, btw. -- nm - psilotum Jul 29, 16:44 1
      - What? We are just moving in together. Not going to have kids. She doesn't want kids. -- nm - El Pollo Rojo Loco Jul 29, 16:46
  - nmb redmond - JenBro Jul 29, 16:27 8
    - That's massive for a 1BR, my 1BR was 30square m -- nm - Karl_S Jul 29, 17:03
    - I thought ST new this already. I am helping my Dad get an apartment near us. -- nm - El Pollo Rojo Loco Jul 29, 16:29 6
      - I knew about the moving-in together, hoped Dad would be settled somewhere. good on ya. :) - - b. Jul 29, 16:40 2
        
        b you always have the best advice ... and now you have me wondering if maybe I knew he was moving in but likewise wondered about his pops -- nm - JenBro Jul 29, 16:43
        
        Your advice is noted and I agree. -- nm - El Pollo Rojo Loco Jul 29, 16:42
      - I didn't know either. Congrats! Best of luck! -- nm - Krusty Jul 29, 16:33
      - oops - JenBro Jul 29, 16:31
      - New=Knew. -- nm - El Pollo Rojo Loco Jul 29, 16:30

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