retire to nature
Recycles dryer sheets
- Joined
- Aug 10, 2018
- Messages
- 384
Hi, I have been the member of this site since 2018 because I wanted to retire early.
I am 42 female, divorced no kid but with 2 small dogs.
I was doing ok with my own money to plan to retire about 5 year later. I had 3 rental property and have a full time job. I thought it was too young to retire and afraid to get bored.
Last year, by an accident, my sister passed away. She was a flipper. she helped me to set up my rental properties, and now I am about to have her 8 more rental properties after probate.
now my full time makes gross 60k/y
rental income net 170k/y(mine and hers)
index fund 400k worth
no debt on mine but my sister may have to pay medical bill during probate.
total asset about 2 mil. property assets are 1.6 mil.
Sounds a lot and enough to retire now, but there could be some issue with medical bill on my sis.
I haven't started probate yet. so I am confused if I have to sell all property and retire with freedom.
1. I will quit my full time job and just manage properties(or management company).
2. I sell every things and keep the full time job.
3. I sell every things and quit the full time job (free of stress).
I am an RN with very easy position, so the activity gives preventive measure for dementia. haha. But it is still a full time job so want to have my own free time life too.
but I am afraid to be bored with number 3 option. But I am trying to buy a land and build a house and self sufficiency life.
I am also INTJ so solving problem was fun part. I learned skills from my sister so I was handling okay with rental properties.
Of course it is headache with handling bad tenants.
Also, I have very good tenants too.
so my probate plan was changing to titles onto my name to finish up probate soon because I have to handle 11 houses during probate. Later, when tenants want to move out, I would sell it.
But there is market could be bad later when I want to sell.
I live in Missouri for now. used to live in CA. So I know about market could be in my way.
I am also not sure about tax issue which way would be better. Selling all the property thru probate would save some money? or should sell cheaper to finish up the probate?
I am having too much thoughts disorganized so I am delaying to the end of probate but I really have to make a direction to go.
Please feel free to advise.
Thank you in advance.
I am 42 female, divorced no kid but with 2 small dogs.
I was doing ok with my own money to plan to retire about 5 year later. I had 3 rental property and have a full time job. I thought it was too young to retire and afraid to get bored.
Last year, by an accident, my sister passed away. She was a flipper. she helped me to set up my rental properties, and now I am about to have her 8 more rental properties after probate.
now my full time makes gross 60k/y
rental income net 170k/y(mine and hers)
index fund 400k worth
no debt on mine but my sister may have to pay medical bill during probate.
total asset about 2 mil. property assets are 1.6 mil.
Sounds a lot and enough to retire now, but there could be some issue with medical bill on my sis.
I haven't started probate yet. so I am confused if I have to sell all property and retire with freedom.
1. I will quit my full time job and just manage properties(or management company).
2. I sell every things and keep the full time job.
3. I sell every things and quit the full time job (free of stress).
I am an RN with very easy position, so the activity gives preventive measure for dementia. haha. But it is still a full time job so want to have my own free time life too.
but I am afraid to be bored with number 3 option. But I am trying to buy a land and build a house and self sufficiency life.
I am also INTJ so solving problem was fun part. I learned skills from my sister so I was handling okay with rental properties.
Of course it is headache with handling bad tenants.
Also, I have very good tenants too.
so my probate plan was changing to titles onto my name to finish up probate soon because I have to handle 11 houses during probate. Later, when tenants want to move out, I would sell it.
But there is market could be bad later when I want to sell.
I live in Missouri for now. used to live in CA. So I know about market could be in my way.
I am also not sure about tax issue which way would be better. Selling all the property thru probate would save some money? or should sell cheaper to finish up the probate?
I am having too much thoughts disorganized so I am delaying to the end of probate but I really have to make a direction to go.
Please feel free to advise.
Thank you in advance.
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