8/17    Anybody on soda have more than one house?  Is the mortgage on the
        second house also tax-deductible?  I heard that mortgage interest
        deduction is lower for 2nd homes.  Can someone confirm?  Thanks.
        \_ It is less (as it's not a necessity to have a second home).  But
           you can get around this if you have enough equity in your first
           home.  Buy the second home for cash from a loan on your first home,
           then you are just extending the payments on your first home, and
           still only have one mortgage to pay.
        \_ If you intend to rent out the other place I don't think that you
           can get a mortgage deduction. The deduction only applies to your
           primary residence. Like the previous poster said, get a equity
           loan on your primary house and use the cash to buy the second one.
           That way you will have one paid off house and you will get 30%
           back on the interest that you pay for the higher loans. Also if
           you homestead the second property and/or put it in an estate it
           can't be accessed by creditors in case of bankrupcy. If things
           go south you will still have a place to live free and clear.
           \_ Well I don't have enough equity in the first house to do
              this.  Not yet at least. But I still want to cash out some
              more stock to buy the 2nd house for renting it out.  Do you
              have a lawyer or CPA do estate planning?  Or do you just read
              a book?  What book would you recommend?  I hate giving up
              control of my finances, but it get more complicated the more
              money I have.  Ugh...
              \_ CPAs, like any hired help, don't do anything without your
                 direction. They help you do what you want to do; go see one,
                 try to get a good reference. A good CPA is an invaluable
                 resource towards converting that stock into a productive
                 base you can grow on.
                 \_ I agree. A good CPA or estate/tax lawyer will help you
                    and give you decent advice but you have to set the
                    direction. The reason I know about some of this stuff
                    is that I've been investing since I graduated HS. When
                    I got to Cal my parents gave me enough to make it for
                    two yrs tops without working/investing so I gave myself
                    a crash course (necessity is the mother of invention).
                    \_ Wow, you had it so rough.  I got a job to support
                       myself for 4+ years.  Hunger is the mother of
                       motivation.
                       \_ That was rough?  I turned down a grad school
                          admission in Palo Alto to get a job to support
                          myself and put my sister thru college (Haas School),
                          and she's paying out-of-state tuition for all four
                          years.
                    is that I've been investing since I graduated HS.