All Forum Posts by: Tim Bruner

Thank you very much!

I am a low income Senior newbie, and need help deciding.  What is best plan of action to take on 2 identical 1975 2BR, 2BA, 2 car garage houses on same street in Buena Park, Orange County, CA that I am inheriting?  One fixer has a reverse mortgage of about $335K and, the other is a rental with about $250K 5.5% mortgage with a $2K+/mo pmt.  4 year Renter is Only paying $2200 mo.  Rents in area now $2500-3K mo. Values approaching $500-600K.  My income is small Soc. Sec. $720 mo., credit score about 670.  What should I do, sell and cash out in this record high market, so I can buy a 4 plex to have more income and one to live in, or what and how?