Property Question

Hello Guys just want your opinion on renting a home in the city. Do you have other advice on this. Answers is very much appreciated…

Not sure i understand the question. Are you renting it for personal use or as an investment?

Please tell me what you all feel about short sales and the tax ramifications for the seller? They have changed a lot since I first starting selling them.

When I speak of short sales I am talking mostly about residential short sales. I have heard that the ramifications for sellers are not good and that it may be better to have the house foreclosed on instead of putting it in a short sale. It use to be much better to have the short sale but there are now different types of short sales. Has anyone experienced the problems? If so, please explain.

From my POV, it all depends if it’s a property you’re using, or for an investment. That’s the question that you should be considering first before jumping to any property shopping, LOL! In my case, I bought a house in the suburbs a couple of years ago. It was surreal, having a house of my own, not yet a dream house but one day it’ll be! After a year, I gave up. My work is 2 hours away from my house and the long trip was just unbearable. I have to give up my other part time jobs too. I decided to rent it out and rent a condo in the metropolis. Lesson? It wasn’t really my plan of buying a house for business or for investment, but this happened. I don’t regret any decision as I love the house itself and the community it’s in. It’s just that I could have prepared or planned on what I should be doing on the property in the first place so the unpleasant thingies could have been avoided. Again, it’s difficult to give you a subjective answer as the scenarios vary. Good luck!

Actually it all depends whether you are Renting Home for your own use or for commercial perspective.Because
in both cases situations will be different.

It would make sense if you have engagements in the city.Like work,school etc.
But you should tell us what you hope to achieve by renting in the city,so as to give informed advice.