Updated almost 19 years ago on . Most recent reply
High competition
I'm in Tucson. We experienced huge appreciation the last few years. This has attracted many people to get into REI. Prices have dipped somewhat since last year. We have 2 duplexes. We've benefited from the last few years but we bought pretty old, high maintenance properties (and tenants). We have pretty good cash flow but a lot of repairs and, rate of appreciation is much less this year, and I am a burnt out landlady who had neurosurgery last year. I'd like to get out from under these properties. We are in our 50's with nothing but our properties for retirement. I want to use what little we've accumulated to really make our equity work. I am willing to do REI almost full time. Investment properties here are priced high and would not give us cash flow. I feel like the experienced REI pros are many steps ahead of me. I'm trying to get focused in an area that may not bring as dramatic returns as the money flush pros look for. Like can you count on the first house in a new development priced low for flipping? We will need to 1031 one of our properties for sure. What about developing land and putting a manafactured home on it and then selling. I just hate being a landlady. Lot's of questions. Thanks for any help.