Hi Everyone,
I'm new to the forum and also to retirement planning. I have basically put all my eggs in one basket - real estate. I have 24 rental units personally, am 1/4 owner and the manager of 13 more units. The 13 will be sold in the near future. My question is what is the best way to handle the remaining units? If I sell everything there will be $1,225,000 + after taxes and paying off the mortgages. By the way I'm 59 and DW is 52. We have one daughter in college for 2 more years.
I would like to hear how others have dealt with their accumulated rental properties and how they fared. What would they do differently if anything. I'm currently thinking of easing into the retirement mode over the next 3 year time period
I'm new to the forum and also to retirement planning. I have basically put all my eggs in one basket - real estate. I have 24 rental units personally, am 1/4 owner and the manager of 13 more units. The 13 will be sold in the near future. My question is what is the best way to handle the remaining units? If I sell everything there will be $1,225,000 + after taxes and paying off the mortgages. By the way I'm 59 and DW is 52. We have one daughter in college for 2 more years.
I would like to hear how others have dealt with their accumulated rental properties and how they fared. What would they do differently if anything. I'm currently thinking of easing into the retirement mode over the next 3 year time period