pdoherty972
Confused about dryer sheets
- Joined
- Jun 7, 2016
- Messages
- 5
Glad I found this forum - it discusses the FIRE concept which is something I've been working on for years (trying to invest/save for FI and prepare to retire early) but didn't know there was an acronym for it. Any advice is appreciated on how best to arrange things to FIRE sooner rather than later.
Portfolio:
- 366K in 401K/IRA accounts.
- I have my personal house plus 5 more single-family-home rental houses, with a combined equity of 618K (170K of that is equity in the house I live in). Removing my personal house equity leaves 448K in rental home equity. The rental houses pay for themselves, cashflowing together about $1500-$2000 a month which covers maintenance expenses and if any vacancy occurs. Total combined value of houses (not equity) is 1.37 million (my house being 400K of that).
- I have 100K in money-market/savings/checking.
The real estate market is hot around here and I've been considering cashing in one or more of the rentals for their appreciated value. But if I do I'll pay 15% capital gains (plus the costs to sell) unless I 1031 into a new property (which I'd like to do but that same high-priced environment that makes me want to sell also makes me not want to be buying). Is there some better investment I could do with proceeds of a house sale?
Any advice appreciated.
Portfolio:
- 366K in 401K/IRA accounts.
- I have my personal house plus 5 more single-family-home rental houses, with a combined equity of 618K (170K of that is equity in the house I live in). Removing my personal house equity leaves 448K in rental home equity. The rental houses pay for themselves, cashflowing together about $1500-$2000 a month which covers maintenance expenses and if any vacancy occurs. Total combined value of houses (not equity) is 1.37 million (my house being 400K of that).
- I have 100K in money-market/savings/checking.
The real estate market is hot around here and I've been considering cashing in one or more of the rentals for their appreciated value. But if I do I'll pay 15% capital gains (plus the costs to sell) unless I 1031 into a new property (which I'd like to do but that same high-priced environment that makes me want to sell also makes me not want to be buying). Is there some better investment I could do with proceeds of a house sale?
Any advice appreciated.
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