4 ms·
Your property taxes and mortgage insurance are deductible where rent is not. If you look hard enough in NJ/NY areas you can find places where the principal is n
by chrisabrams 8y ago
Your property taxes and mortgage insurance are deductible where rent is not. If you look hard enough in NJ/NY areas you can find places where the principal is near the rent price and you deduct the rest. In the long run that works out to your favor.
Not everyone can afford such a situation and the new Trump tax changes don't help either. Just saying "I should rent" is irresponsible because you think you're bumping the state pension funds. When you rent you're helping an owner pay off their mortgage as well as the very taxes to pay that pension fund.
- jwong_ 8y agoWhat do you use to find these areas? Is there any particular neighborhoods you're willing to share?
- chrisabrams 8y agoStart with mashvisor.com to get a good feel for what areas with fit the stragetgy(ies) you have.
- spicymaki 8y agoRent is deductible for certain states. The new tax changes are going to be scary for some states, I would not buy until I have a comprehensive idea of what is coming.