[quote=ocrenter]
yup, totally forgot the most important carrying cost. I have to assume 5% interest since his first was full jumbo. Which means $5200/month in principal and interest. That’s roughly $187k.
with the $220k from my prior post, we are looking at $407k loss for the whole affair.
of course, a third of it should be tax deductible. so probably just around $270k in real losses.[/quote]
The $125,000 question is whether this was a principal residence.
If it was, take that 270k and subtract $125,000 of the money he would’ve spent renting a comparable house for 3 years.
If it wasn’t, add back $125,000 of tax deductions because you’re not supposed to deduct interest on a second home that you hold for resale.
It looks like the guy lived there almost a year before putting it back on the market. It was also rented for much of the time it was on the market. A rental lisitng shows $5500/month of rent. SO you can factor in both of those things.
It looks like the guy lived there almost a year before putting it back on the market. It was also rented for much of the time it was on the market. A rental lisitng shows $5500/month of rent. SO you can factor in both of those things.
It looks like the guy lived there almost a year before putting it back on the market. It was also rented for much of the time it was on the market. A rental lisitng shows $5500/month of rent. SO you can factor in both of those things.
It looks like the guy lived there almost a year before putting it back on the market. It was also rented for much of the time it was on the market. A rental lisitng shows $5500/month of rent. SO you can factor in both of those things.
It looks like the guy lived there almost a year before putting it back on the market. It was also rented for much of the time it was on the market. A rental lisitng shows $5500/month of rent. SO you can factor in both of those things.
[quote=sdrealtor]It looks like the guy lived there almost a year before putting it back on the market. It was also rented for much of the time it was on the market. A rental lisitng shows $5500/month of rent. SO you can factor in both of those things.[/quote]
According to Redfin the place has been continually on an off the market since he purchased it in 2007. I don’t see a full year period of it not being active and then being put back on the market.
[quote=sdrealtor]It looks like the guy lived there almost a year before putting it back on the market. It was also rented for much of the time it was on the market. A rental lisitng shows $5500/month of rent. SO you can factor in both of those things.[/quote]
According to Redfin the place has been continually on an off the market since he purchased it in 2007. I don’t see a full year period of it not being active and then being put back on the market.
[quote=sdrealtor]It looks like the guy lived there almost a year before putting it back on the market. It was also rented for much of the time it was on the market. A rental lisitng shows $5500/month of rent. SO you can factor in both of those things.[/quote]
According to Redfin the place has been continually on an off the market since he purchased it in 2007. I don’t see a full year period of it not being active and then being put back on the market.
[quote=sdrealtor]It looks like the guy lived there almost a year before putting it back on the market. It was also rented for much of the time it was on the market. A rental lisitng shows $5500/month of rent. SO you can factor in both of those things.[/quote]
According to Redfin the place has been continually on an off the market since he purchased it in 2007. I don’t see a full year period of it not being active and then being put back on the market.
[quote=sdrealtor]It looks like the guy lived there almost a year before putting it back on the market. It was also rented for much of the time it was on the market. A rental lisitng shows $5500/month of rent. SO you can factor in both of those things.[/quote]
According to Redfin the place has been continually on an off the market since he purchased it in 2007. I don’t see a full year period of it not being active and then being put back on the market.
you are correct. i went back and found an earlier listing. he never lived there. it does look like it was tenant occupied for a good part of the time though.
you are correct. i went back and found an earlier listing. he never lived there. it does look like it was tenant occupied for a good part of the time though.
you are correct. i went back and found an earlier listing. he never lived there. it does look like it was tenant occupied for a good part of the time though.
you are correct. i went back and found an earlier listing. he never lived there. it does look like it was tenant occupied for a good part of the time though.
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