Any guidance or suggestions on moving out of my primary residence, turning it into a rental using the surplus rent to offset the cost for a rental at a new marketplace?
Great question. The biggest concern most of our sellers bring into the equation is the fact that they are giving up their capital gains exemption if they keep it as a rental for too long. We’ve told many people to count the cost of giving up the capital gains exemption when calculating their numbers. Check with your CPA on that one. Once most clients do those numbers they decide to sell the CA home. Besides CA is not a friendly landlord state. Check out our “CA hates landlords” episode.
Any guidance or suggestions on moving out of my primary residence, turning it into a rental using the surplus rent to offset the cost for a rental at a new marketplace?
Great question. The biggest concern most of our sellers bring into the equation is the fact that they are giving up their capital gains exemption if they keep it as a rental for too long. We’ve told many people to count the cost of giving up the capital gains exemption when calculating their numbers. Check with your CPA on that one. Once most clients do those numbers they decide to sell the CA home. Besides CA is not a friendly landlord state. Check out our “CA hates landlords” episode.