Well as part of the royal screw up that was this condo, it turns out we have never been able to claim a tax benefit bc we make too much money (two accountants have explained this to us — we can claim the tax benefit loss/depreciation if we sell it…)
My husband says we may owe income tax if we sell the condo, even at a $40k loss – true?
As for your bet on my personality type, you are spot on, scary almost. I have knack for closing million $ sales for my company, MAJOR Type A but also recognize that not focusing on rasinig the kids / keeping a home does affect the family and that is why I keep pulling back more and more from work, cutting my hours, turning down promotions, stock, comissions. In this case a VERY much care more about have a tranquil, simple lifestyle for kids vs more money.
But yes, you’re right I probably would still do some consulting, “special projects” or something. And someone said we’re just lazy to deal with the rental. Honestly, you’re right too, there is a $ value we put to not going to bed every night stressed about something that is draining our time and savings accts.
I already only sleep about 5 hrs nite which is only way to keep up with work/client demands and still be hands on raising the little ones w/out daycare. My husband also works really hard — we’re not lazy in careers, kids, household, family, community but we are SO DONE with all of the real estate drama. Just want to pay our monthly rent or mortgage, settle down, raise the brood and then jump back into it all maybe in the next decade. I’m sure we’ll time that completely wrong too…
Our philosophy when buying the first house and then this condo was that we would never sell either and pay off properties to build an income stream. Then we actually had the kids and realized that being a good parent is a full-time job plus more and we changed course and decided to work towards just being able to survive / enjoy life on the one income.
