Q & A Board - View Post
 
Author:  mike
E-mail:  df@adc.com
Date:  7/9/2004 1:20:00 PM
Subject:  real estate
Message:  lechvod harav,

if you have real estate how would u go about tsedaka. im saying if you get checks every months for rent should u give 10% of that or do you wait untill u sell the building, because until you sell it its not profit.

thanks
   
Reply:  You buy a building for $1 million.

You're mortgage is $6,000 per month
Expenses....$10,000 per month

Income $25,000 per month

Profit   $9,000 per month

You give Tzedaka on the $9,000

....up to $1,800 per month (20% max)


Then 6 years later you sell it for $1.5 million...

You give Tzedaka for the extra $500,000 and also for the portion of the mortgage paid already...
AA



(sorry: Correction complements of Jordan/Yair)

Back to the Q & A Board