I bought one house 15 years ago and still live in the same house.

6 Replies

That is the sum total of my current experience in real estate, but I am reading and listening to podcasts to learn more.

@Ed Christina - good to still see some old school lifestyle folks still out there.  Remember how our parents and g-parents lived in the same place for decades without a thought?

Welcome to BP!  Having your own house puts you ahead of a lot of folks.  See ya around the site!

@Ed Christina

Having a home is a great asset.

You should be able to get a line of equity on your home to help get you started!

Welcome!

Originally posted by @Steve Vaughan :

@Ed Christina- good to still see some old school lifestyle folks still out there.  Remember how our parents and g-parents lived in the same place for decades without a thought?

Welcome to BP!  Having your own house puts you ahead of a lot of folks.  See ya around the site!

 Thanks!

Originally posted by @Tony SanFilippo :

@Ed Christina

Having a home is a great asset.

You should be able to get a line of equity on your home to help get you started!

Welcome!

 I also have some money set aside for real estate.  I was thinking of buying a second house, and renting out the one i am in now.   Have you ever done this?  I understand that you avoid capital gains taxes doing it this way.

Originally posted by @Ed Christina :
Originally posted by @Tony SanFilippo:

@Ed Christina

Having a home is a great asset.

You should be able to get a line of equity on your home to help get you started!

Welcome!

 I also have some money set aside for real estate.  I was thinking of buying a second house, and renting out the one i am in now.   Have you ever done this?  I understand that you avoid capital gains taxes doing it this way.

 You won't owe any tax if you sell. You actually put yourself into a possible taxable situation if you turn your residence into a rental property. 

Originally posted by @Mike D. :
Originally posted by @Ed Christina:
Originally posted by @Tony SanFilippo:

@Ed Christina

Having a home is a great asset.

You should be able to get a line of equity on your home to help get you started!

Welcome!

 I also have some money set aside for real estate.  I was thinking of buying a second house, and renting out the one i am in now.   Have you ever done this?  I understand that you avoid capital gains taxes doing it this way.

 You won't owe any tax if you sell. You actually put yourself into a possible taxable situation if you turn your residence into a rental property. 

@Mike D Thanks! that's exactly why i am still doing research. 

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