calmloki
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
We've been doing rental property for the last 25 years or so, not much in the way of gainfull employment otherwise, so we can't contribute much to any IRAs (have about $50k in IRAs now). Since most of our income has been classed as "unearned income" by the IRS we will have maybe $1000/mo or so in SSI. Have about $450k in money markets,bank certificates, and $187k in property loans we've made. About $35k in stocks and around 1.5M in various rental properties (after discounting for cost of sale,depreciation recapture,and LTCG). This assumes that we sell all the properties in the next couple years to take advantage of the reduced LTGC tax and does not account for any alternative minimum tax that might be imposed. Just looking at it, i'd say we've got about all our eggs in one basket! - Kinda intentional - they've been under our direct supervision and control that way. I keep running the numbers and it looks to me like we've got about enough piled up to get us all the way to 93 or so. No kids to worry about. I guess the questions are: is there any reason to invest in the stock market if one can sew up rates like PenFed's 6.25% and be pretty much 100% safe? Anybody making any money putting their property under the control of a management company? We have a 16 unit apartment that might be a likely candidate, but we bought it from some folks that had it under management and were showing no profit - by doing our own management and much of the repairs it returns a pretty decent income. I'm just getting real tired of dealing with petty tenant issues. Any good suggestions for an exit strategy from the properties? don't really want to do a 1031 exchange - doesn't feel like a good time to be buying yet and am tired of being a landlord.