All Forum Posts by: Account Closed

Can I count my mortgage payment towards an investment property as a business expense, even if the mortgage is in my name but paid from a business account?

I would assume you can, but I just want to make sure.

Thank

Thanks guys... all your responses have been really helpful!

Thanks Terry

Question: Is it wise to pay cash for a home and re-finance it to get cash to buy more properties? What are some downfalls to this approach?

Example: I pay 30k for a home.... refinance for 60k... to buy 2 more 30k homes

Is this a bad idea?

Thanks guys... this is very helpful!

Thanks Brian. Yes GA has state tax it's about 4% I believe. However, what if I was no longer receiving income from a job. Would my real estate income be taxed differently? If so, what rates should I expect?

Greetings All,

I am new to the real estate investing world, planning to make a purchase this summer. I was curious about how rental income is taxed, specifically in the state of GA. Does anyone know the current rates... for example, if I made 10k per month in rental income... what type of tax rate (fed and state) should I anticipate?

Thanks in advance for your responses