General rules around what needs to be in place to be ”ready” to purchase a rental property?

Currently have a mortgage on my home, debating a home equity loan to use as a down payment on a vacation rental home.. am I crazy or is that a decent way to go?

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Posting as :
works at
You are currently posting as works at

It seems you don’t even know your numbers. This seems like a disaster waiting to happen

likesmart

At todays rates? Yuck.

What’s your cash flow?

So $36k/cost and $35k/income? Are you including the cost for furnishing and the turnover process between guests? If you are spending $3k-$4k now to rent then it might not be stupid.

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I don’t play with options much, but I happened to buy VERU calls for 2/19 a little while ago and now it’s skyrocketing, it’s up over $1k for me- will it keep going up? Should I just take the profits now and be happy?

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Currently renting for ~ $1500/mo in a low COL city. My lease ends in Dec and am looking to purchase a property and get into rental game. I have $40K in bank, but I’m not sure what my max investment should be or will be approved for. Would it be feasible to keep renting and also try to rent out a purchased rental property given my liquid cash?

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Hii sharks 🦈🦈🦈🦈

Can anyone of you please help in calculating how much will be my income tax per month(I am availing the Old tax regime)? Different IT calculators show different figures, not sure which is correct :(

And as for the interest amount in the Savings Account and Fixed Deposits, do both fall under "Income from Interest"? Or under "Other Income"? Or does Interest amount in Savings account fall under "Interest from Deposits - 80TTA"?

The figures are given in the screenshot 👇🏻

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How much is Sodexo card amount in BNYm. And can we claim Wifi Amount also ?

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Hi all, I’m in the north east metro area and due to the current RE market we decided to look into PA specifically Lancaster. Anyone in this market and have any thoughts on where it’s headed? We’re looking purchasing a single family property all cash at 110k that rents for $1100 a month. The last owner bought for 35k like 15 years ago 😩 but hoping buying and holding for a few years will give a equal or greater returns over the long run.

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Hi everyone! I’m a young professional right out of college getting into investing and personal finance management. Trying to better understand and educate myself on personal finance and investment strategies. Can someone recommend some recourses (books, podcasts, experts to follow, etc.) where it’s clearly explained for beginners? Trying to make sense of 401Ks, Roth IRAs, emergency funds etc.
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Is anyone changing their retirement plans based on COVID-19 realities and the future of work.

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How much should I invest in buying a HOME as my primary residence.

Current TC: 200k
Net worth: 300k, readily available 170k in stocks, hysa and cash
Current rent: 2000 per month
Age: 30

Wonder if anyone has any excel model or a rule to determine how much I can afford or should go for?

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Any recommendations for high div stocks with good balance sheets. I’m thinking these could be the best picks in this market with many growth stocks seemingly overvalued

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If I received 2019 income in 2020, do I need to amend my return? I just received a K-1 for a few thousands that is for income earned in 2019. Not sure if I need to amend or if I can just put it in my

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I survived 7/15! I prepped and filed 757 tax returns except mine. Time to celebrate with another Lemon Drop

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Are my crypto profits taxed?

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Non traveling consultant

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Hey, I am looking for an Angel investor to invest in our idea. Can someone help me to connect with the person.

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I had a sex dream about my senior, but I have a boyfriend. Am I terrible? Has this happen to anyone else?

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Hi guys 👋🏻
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Dear fishes,

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Hi Fishes.. 6 yoe in SAP SD, i got 2 offers one from Wipro14 lpa role tech lead and other from Infosys for 16lpa role consultant.. i feel in Wipro the role is good but package is very less and in Infosys the role less for my experience and package can also be revised.. what can i do.. need your valuable inputs if i can negotiate with anyone of the company or which i can choose.. TIA.

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Good evening all,
With my partner we are considering making a move to the countryside of Switzerland, with a gorgeous RE project offering incredible views on immaculate mountains and lake. However, it is far away, and will require 1h+ train/car commute vs. 10 min biking right now. We are scared it will bite us back at some point, although COVID helped w/ remote working being a new norm. The project will be done 2024, so I hope to have a more relax job by then. Any similar experience to share?

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469k new construction
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idk if this is the right place to post but...
Ok so I was carless -- I was assembling my new bed frame and one as I was grabbing one of the long parts; I set it vertically and my fan was on and hit the edge. I literally just moved in 5 days ago and I already scratched these pristine fans, I'm irate and I want to fix it.
Is there any kind of paint. or is there a way to polish it so it doesn't look as bad :(

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