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Tax Bill May Hinder Second Home Prospects


Congressional Republicans and President Trump may be celebrating the newly-enacted tax reform bill, but people in the market for a second home may find the bill complicates their dreams of buying a second home.

According to CNBC, the rules have changed regarding the deductions you can take on your second home purchase. If you already have a $750,000 mortgage and plan to buy a second home next year, you will not be able to deduct the interest on that loan.

And if that wasn’t onerous enough, the newly-imposed $10,000 cap on property, state and local income taxes will slow the housing market in affluent areas of the country such as San Francisco, New York City and Alameda, CA.

Single-family home rentals make more sense than ever…

For the full article, click HERE:

Consider investing in a professionally managed portfolio of single-family homes? Please contact Harold Willig at harold.willig@springviewinvestments.com or 917-209-4452.

Harold Willig is the Manager of SpringView Investment Management, LLC, which he founded in 2012. Mr. Willig also served as HFZ Capital Group’s Chief Financial Officer, and was responsible for the oversight of HFZ's Finance and Accounting team. He has over 16 years of finance and accounting experience.

Mr. Willig also ran a consulting practice and provided valuation, analysis, and transactional support services to multi-billion-dollar real estate companies. Previously, Mr. Willig served as the Senior Controller and Vice President of Financial Analysis and then the Chief Financial Officer of the Athena Group, a multifamily development company and fund manager.

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