All Forum Posts by: Ellen Nodine

Thank you for your insights, Greg! I'm curious about your comment about lawsuits and fraud. Why is that vs one that has a mortgage? We don't have them set up as LLCs but do have a generous umbrella policy. 

HI - - With no real strategy in place, my husband and I have ended up with three properties - two we rent long term and one we live in. We own two townhouse rentals free and clear (Value about $450k each) and took a $250K Liquid asset line of credit (at 1.5%) to buy the home we're in now (a 1952 fixer-upper - which we've almost completed - current value $450+). 

The $250K LAL is due in June 2024, so trying to figure best way to pay that off. Take a traditional mortgage on our home? Sell assets (stocks, etc) to pay it off? Sell one of the rentals?  Get a short-term loan and wait for mortgage rates to go down? 

We've read a lot about the diversity of assets - some say no more than 25% in real estate, others say it depends, etc. We're about 65% real estate now. 

If we sell one of the rentals, we'll have  $200K profit so there will be tax implications.

Other consideration - we're two years from retiring and it's nice to have the cash flow that rentals provide...

Would love to hear ideas from you all! 

Thank you!