All Forum Posts by: Ashley Brown

So I'd like to talk about what to do with 2 homes that I have right now. And another 2 homes that I’m due to inherit. I’m 45 and I have very little saved in retirement and it’s long overdue that I put some thought into what I’m going to do with these properties and my life leading up to retirement. Considering SS won’t be a thing when I get older. 

For starters, I'm currently living in South Australia. Was lockdown here due to Covid, but now I can come back up to Tampa. 

First up is my current one I’m living in. It’s a 2bed 1bath flat that I bought in Feb 2022. The kitchen and bathroom have been completely renovated. Right now I owe about 207k on it. My monthly repayments for it are 814 per month.

The second one is a house in Tampa Florida that I used to live in. I own it free and clear but it’s not rented out. Mainly because all my stuff is still inside and it’s pretty old and beat up. It was built in 1937 and hasn’t been updated since. I’m having a home inspection this week so I can find out what’s going on structurally. I should also mention the surrounding area is gentrifying. The block is 30’ by 140’ on a corner lot.

Number 3 is the house next door to the aforementioned house which is in the same condition. Owned free and clear, but needs a lot of work. That’s where my mother lives currently. That block is 50’ by 140’

Here is a picture. 2 is on the right, 3 is on the left. 

And finally I’ll be handed my parents old apartment in Brooklyn.  A 1 bed 1 bath on the top floor. That is also owned free and clear, but it’s in a Co-op. The co-op has decided that I can only rent that apartment for 3 out of 10 ten years.

So, what would you all recommend? What I wanted to do was rent out the apartment for those 3 years while I'm rebuilding the 2 in Florida. But that's just my best guess.  

@Theresa Harris



The surrounding area has and is going up. A year ago, the council stated the house is worth $410k. Now it's $425K. On top of the RBA here in Australia dropped interest rates. Which means a lower interest rate for me. These two things make me wonder if I should refinance and rent it out.

You're right in assuming I'd come out with $40 to $50. I thought closer to $60K myself. I'd also like some financial wiggle room when I come back to the states. I know that would be difficult with an active mortgage.

Thanks

Hello all. I could really use some help here.

On 04 APR 17, my wife and I purchased a 3bdr 2ba for $417,500. She took 100k from her previous purchase and put it towards our current home. We then financed the remaining $317,000. I now currently owe $300,000 at 3.66%

After my wife passed, she gave her half of the house to our 6 y.o. daughter to leave her something understandably. She then made her sister and brother her executors. (My wife and I didn't have a good relationship.) 

Now, I have been bitten by the Robert Kiyosaki real estate bug and I realize that ownership is key. So my question to you all is. If you were me, would you keep and refinance and rent out. (I will definitely come back to the states.) Or cut your losses and sell. keep in mind if I sell, %50 of the profits would go to a trust fund for my daughter.

Attached is a link to the way the house looks. Anything helps.

Thanks.

https://www.realestate.com.au/...

Hello all. I could really use some help here.

On 04 APR 17, my wife and I purchased a 3bdr 2ba for $417,500. She took 100k from her previous purchase and put it towards our current home. We then financed the remaining $317,000. I now currently owe $300,000 at 3.66%

After my wife passed, she gave her half of the house to our 6 y.o. daughter to leave her something understandably. She then made her sister and brother her executors. (My wife and I didn't have a good relationship.) 

Now, I have been bitten by the Robert Kiyosaki real estate bug and I realize that ownership is key. So my question to you all is. If you were me, would you keep and refinance and rent out. (I will definitely come back to the states.) Or cut your losses and sell. keep in mind if I sell, %50 of the profits would go to a trust fund for my daughter.

Attached is a link to the way the house looks. Anything helps.

Thanks.

https://www.realestate.com.au/...