Obsidian Business Planning Solutions’ Post

Thinking of turning your home into a rental property? 🏠 Recently, we've discussed topics like cash vs. mortgage and capital gains. Today, let's tackle another common question: whether to sell your home and buy another for rental purposes. Why consider selling your primary residence for a rental property? 👉 By selling and reinvesting, you establish a new cost basis for tax purposes. 👉 Remember the "2 of 5 Rule", to maintain eligibility for the $250,000 profit exemption. Want to chat about the financial implications? Reach out! We're here to help you make the best decision for your situation. https://lnkd.in/dwDA_iFt #RentalProperty #FinancialDecisions #ObsidianPlanning #PropertyTips

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