Mhe best strategy/Mentor

[Elia Caputo]

Hi everyone my name is Elia and I am new here. I have 2 short-term rentals in WNC, one long-term rental in AZ currently for sale, 2 lots for sale, and a fixer-upper to be fixed. My husband and I are ready to fully grow our portfolio and create better generational wealth. I am taking care of the rentals and 2 teen daughters. We currently have about 80000 in credit card debt and he just lost his job, reasons why we are selling some property. I would love to get your opinion about what our next step should be and how to go about it. Thank you so much for your help.

[Basit Siddiqi]

I would forget about growing the portfolio and generational wealth until your husband finds a job and you reduce your credit card debt.

Credit card debt has interest rates above 20%, there is a strong case that your rentals are not generating a 20% return. I would consider selling a property to pay off the credit card debt.

Maybe your husband can manage the STR listings and potentially do the cleaning.

Best of luck