Good Problem To Have But Need Advice
First post.
I'm looking at starting a RE investment career. My wife and I currently own two properties in SoCal. One of the properties is paid for and the other has about 40% equity. We have owned a few properties over the years but don't consider ourselves RE investors(yet). We have a number of items to consider that are coming up that I'd like to get advice on. Here's a list:
We are desiring a move out of CA. Considering SC, TN, GA, NC, MT, SD, ID.
Wife is set to retire from her current job in the next few months with a fixed pension. Is looking to get a different job once moved.
I would be leaving my current job and want to begin RE investing. But, also willing to work a W2 job.
We both have 401k balances.
We have a 17(Jr.) and 18yr(Sr.) old still living with us and a mother-in-law(who does pay rent).
Should we sell paid off rental property, or cash-out refi?
Should we sell both properties?
Timing is likely important. We were initially going to move first and get work after moving. We thought we'd buy a primary residence and then look to take on jobs or RE invest to generate cash. I'm not sure what direction I can take to invest in RE if I don't have a W2 job. My first thought is to partner with someone since I'd have funds and desire but have little experience.
Anyone have any thoughts on this? Are there other things I should be considering?
Thanks!!!