Real Estate / Equity Question

[trevn]

Been in banking for 15+ years. There's a lot of solid information here. Pretty much echoes what I would have suggested.

 

[IcSyU]

Yeah you should be fine. Also, remember the 250K is profit not sales price for a single person. For a married couple it is 500K. I am sure it happens but I have never had a client make 250K/500K in profit on the sale of their house.

I'm still waiting on that to happen. Closest I've gotten was $420k.

I always tell people I hope they have to pay income taxes on their home sale and they look at me goofy.

 

[throwittoblythe]

This is great stuff and very helpful. Thanks everyone!