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blankall · 01-26-2011, 04:38 PM

Considering buying a condo for rent. Let's say I earn $1000/month in rental income. I pay $100 for insurance and $150 for condo fees.

I have the option to go with a 30 or 25 year mortgate. The former will cost me 900/month, which will result in a 150/month loss. The latter will cost me 750/month which will allow me to break even.

Can I write off the 150/month loss if I go with the shorter mortgate term?

All help is greatly appreciated.

01-26-2011, 04:38 PM	#1
blankall Ate 100 Treadmills Join Date: Mar 2006 Exp:	Mortgage rates and tax write offs. Considering buying a condo for rent. Let's say I earn $1000/month in rental income. I pay $100 for insurance and $150 for condo fees. I have the option to go with a 30 or 25 year mortgate. The former will cost me 900/month, which will result in a 150/month loss. The latter will cost me 750/month which will allow me to break even. Can I write off the 150/month loss if I go with the shorter mortgate term? All help is greatly appreciated.