All Forum Posts by: Renee Lee

@John Warren so helpful, thanks.

@Natalie Kolodij

Your input is much appreciated. If I’m reading what you wrote correctly it doesn’t sound like applying any extra money to the principal will hurt in terms of the taxes or tax breaks... that’s what I needed to know thank you.

My questions stem from velocity banking...



1. I know there is a tax deduction for writing off the interest on an investment property is it dollar for dollar?

2. Let’s say, an investment property has a mortgage and the landlord was to throw an Extra $20,000 at the principal. Extra $20 hit the Mortgage principal in 2019, in year 2020 do nothing but make the required payments to the bank. In 2020 - assuming the tax code did not change when the landlord be entitled to write off the interest? In 2019 with the extra money the landlord shows a gain and would not be allowed to do so correct? 

I have an investment property that I will be selling shortly. I’ve owned it for quite some time and it’s in need of much repair. I have an offer on it that I have accepted. Once the sale is complete I will have a nice little cash nest egg.

I’d like to use this money to buy a new primary residence for my family, BUT we are 3 plus years out from being ready for a new house. The house we are currently I would turn into an investment property.... Here’s my question: where should I put the money for the three years? I hate to leave it just in the bank, but I also hate to put it in the stock market and lose any of it. So where should I stash it?

@Dave Foster

So I’m in FL if I do a refinance instead the property taxes will go up significantly...

With an investment property, other than an exchange is there any other way to avoid paying capital gains? I know about living in the property, and that’s not gonna happen so other than that or other than these two options are there any others that I missing? ... thanks!