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Woodsy · 03-24-2006, 09:19 AM

Islander,

I am no tax expert, but...

I think you can refi the cottage and take the equity out to fund the mainland purchase. Then sell your primary residence and rent for a couple of years until your ready to move to the lake. This will also clear the time frame for cap gains.

I suggest you consult a tax attorney.

Woodsy

03-24-2006, 09:19 AM	#2
Woodsy Senior Member Join Date: May 2004 Location: Weirs Beach Posts: 1,968 Thanks: 80 Thanked 980 Times in 440 Posts	Islander, I am no tax expert, but... I think you can refi the cottage and take the equity out to fund the mainland purchase. Then sell your primary residence and rent for a couple of years until your ready to move to the lake. This will also clear the time frame for cap gains. I suggest you consult a tax attorney. Woodsy __________________ The only way to eliminate ignorant behavior is through education. You can't fix stupid.