VanLord wrote:Geyser wrote:VanLord wrote:
"There you go, you can start airbnbing your garage!!"
That could be an excellent long-term strategy, particularly if the homeowner occupies the smallest space.
Maximize your rental income and tax writeoffs in the downmarket and then, when the market finally enters its next bull cycle, evict the tenants and restore the Primary Residence status. That way you could enjoy tax-free Capital Gains in the up years and accrue big Capital Losses in the down years. Sounds good to me.
Airbnb the house, you live in the garage! Then you just need some big gains elsewhere to apply the losses to.
Simple, just short local real estate during the bust.