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Becoming a Landlord by renting out your current house and buying another one. FAQ ❓
Being a Landlord FAQs
📌How much house can I buy?
It depends on your personal financial picture. Do you have enough qualified income to qualify for both mortgages? Is your credit score high enough?
📌How long should I keep it as a rental?
After 3 years, you lose your Capital Gains Exclusion and that could be costly. Losing that Capital Gains Exclusion means you could owe tens of thousands of taxes when you do sell.
📌What if really expensive repair comes up, like the HVAC going out?
Be prepared with a line of credit or savings for unexpected problems.
🎥 How To Guide : Renting Your Current Home, Buying Another One 🎥
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Buying + Selling in Nashville?
Wendy Monday • Broker
PARKS Real Estate
💻 www.wendymonday.com
📧 wendy@wendymonday.com
📞615.642.1313
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