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It’s the first and only thing anyone usually asks when you talk about your mortgage: What’s your rate? While everyone can recall their rate off the top of their head, it’s the only detail of the mortgage they remember or care to know. Though the rate is obviously important, your mortgage is so much more than a rate, and if you’re not paying close attention, it can cost you money.

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The main objective of creating a portfolio of investment properties is to generate income. Passive income from the collection of rents. And of course, as with the case of any income, taxes are an inevitable consequence. But taxes are not payable on the total rent collected. Expenses may first be deducted. And this is one of the reasons record-keeping is so very important.

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