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How to Money

Ask HTM - Switching Banks for an Extra 1%, How Much to Spend on a Car, & A Primary Residence to Investment Property Conundrum #754

Nov 27, 2023
The podcast covers listener questions on topics such as budgeting software recommendations, converting primary residence into investment property, benefits of a solo 401k for contract workers, how much to spend on a new car, and the value of switching banks for higher interest rates.
57:00

Podcast summary created with Snipd AI

Quick takeaways

  • Assess housing market conditions before deciding whether to sell your primary residence, considering factors such as prices, potential tax bills, and selling opportunities.
  • Evaluate if your home is suitable for renting by considering location, rental demand, and potential rental income, and weigh the pros and cons of self-management versus hiring a property manager.

Deep dives

Consider the Timing and Market Conditions

Before deciding what to do with your house, assess the housing market conditions and consider if selling now would be advantageous. Prices are currently high, but they may not stay that way. Additionally, selling now may allow you to avoid a larger tax bill in the future.

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