i want to win the hgtv dream home

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They said that 8-10 people that win that thing haven't been able to afford it, i.e. taxes/utils etc. They end up selling.

They are pimp though
 
i'm not moving to NC! i'd sell it in a month. lol

quit my job, take a nice long 2-3 week vaca down there.

then sell it for 1.5 mill, and retire.
 
watch me.

if you put it in 2% bank accounts, yup, your dead. but if you actually know how to manageme money, you can.

figure, i'll take 500k, buy myself a nice ass house and shit.

take the other mill, and buy an apartment complex. rent for the rest of my life income.
 
That's why I don't think you can do it.

Hell, I know I couldn't.
 
ya my friends mom has been entering once a day since it started, so don't think you're alone. that is a sick ass house though. fly down, throw a little party there, then sell it and drive the SUV home.
 
negatory

keep the house and live in it for 2 years as your primary residence to avoid capital gains...

and 1.5 mil = approx 50 years of 30K a year income

30K takehome = approx 43K before tax income per year...

ING is offering 4-5% on a regular savings account

s good broker can net you 8% for little risk, or up to 20%+ if you take risks...

i could retire on 1.5mil
 
i thought capital gains only applied to homes with mortgages on them? if you pay cash, you don't get charged the gain?
 
nah, capital gains has nothing to do with debt...

if you own a house, but don't live in it then its considered an investment property...

your basis in a house you WIN will be 0, selling it = all capital gains

even if you lived in it i would imagine you would need to claim the FMV of the house as income...
 
A bunch of financial geniuses here... We must all drive Civics because we're sick of the Appres-peux drulldom of our Ferraris and Rolls.
 
i would rather drive a civic than have a ferrari and be a republican... :p
 
i wanna drive an insight and make sweet love to a tree mannnnn.....
 
more like E... that god damn hippie...



ok, maybe not.



he drives an insight.... because its cheap on gas, not because its environ, freidnly
 
Why resist a car that's environmentally friend ? Seems ignorant to me. I brag about my car passing emissions and not stinking all the time.
 
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