First of all if they sell one of Re: buying a home
"First of all if they sell one of there house's outright the stand to pay a large luxury tax on there sale and they like the idea of risk that's why they rent home's in the first place, high return for high risk."
CAN I ASK WHERE YOU PULLED THAT FROM ?????CRAZYBOB
luxury tax om a rental property ? NOPE
maybe you would expect to pay the standard 20% capital gains tax, however, with real estate the money is almost always re-invested into other real estate in which NOTHING is paid in taxes. that is one of the beauties of real estate. I will also add, that a property for sale from a landloard should be throughly inspected because if it's a good piece of property with positive cashflow, why are they selling it ? i would reccommend foreclosures because the bank has no interest in the property, they just want their money back so they can re-invest and use it to loan out more mortgages to make MORE money off the interest
if you are going to give advice, please give factual advice, and not something you pulled out of your ass. THANKS