i'm thinking about buying an apartment complex.

[IndiReloaded]

You guys in the US get the extra incentive of being able to claim your interest on your mortgage. Not so in Canada, FYI. Unless you work from home & get to claim a portion of that as a deduction. And you can do both in the states.

Squirrley, I hope you are income splitting working w/your husband. If not, you need to look into this. It might be better for you to register yourself as a consultant & work for him that way rather than be a paid employee of his firm. GS can prob tell you more.

[misombra]

well thanks everyone but i don't think this one is going to work out. if it was sold as one big apartment complex where i would own the whole thing i would do it.

the complex was in bad shape (i actually lived there a long time ago.) they completely remodeled it, new appliances, new fixtures in bathroom and kitchen, new carpet, new floors, new everything. it looks incredible.

but i don't think it'll work.

renting it out would be no problem because it's in the university area. around here you could have THEEEE shittiest house ever, and it'd be worth 300,000 and you can rent it out for 1500 dollars a month.

which is kinda why we're looking for property here. i think we're gonna have to stick w/ the orig. plan of just buying a regular ol' house.

[squirrley]

Just keep looking Mis, the right thing will come along!

Indi, I work for my husband not the firm. Chris bought a book about the tax thing when it comes to spouses working for spouses. He's pretty intelligent when it comes to those things. I trust him. And I'm getting way more working with him than if employed elsewhere.

[IndiReloaded]

Indi, I work for my husband not the firm. Chris bought a book about the tax thing when it comes to spouses working for spouses. He's pretty intelligent when it comes to those things. I trust him. And I'm getting way more working with him than if employed elsewhere.

Not to imply he wasn't, lots of really smart ppl out there who are less than perfectly practical. Am one myself. Glad you got it all sorted out. I'm pro-laws but have no problem keeping as much of my money as I can, legally.

[misombra]

i really don't think a condo situation would work in this neighborhood. people want something close, cheap, and they barely want a lease.

it's the student ghetto for little baby jesus's sake.

[squirrley]

We use to live by a college here in town. Our landlord owned 4 houses and they are all in foreclosure now. I've seen here a place that buys larger homes, and rents them out to like 4-6 kids and becomes more economic for the kids and the owner. What about something like that?

Indi, ya know we have to be on the up and up, he's an attorney! lol

[misombra]

there's a lot of people building apartments behind their houses and renting them.

those people are banking it right now.

[Illusional]

i'm also looking to buy my own place... forget paying rent to someone else.

raverboy