All Forum Posts by: Tyler Courtney

My parents own two rental properties that are row houses right next to each other. They were both purchased 20+ years ago for ~$70K each and have been fully depreciated. They bring in around $1050 each per month and are likely worth around $100K each.

They would serve as a nice cashflow for their retirement but neither of my parents can really manage them. My brother has managed the properties for the last 5 years but no longer wishes to be apart of it (which I completely understand). I am set on selling the properties because my parents just don't have the financial discipline to do whats necessary - they don't save for maintenance costs, they don't turn the house over quickly, and just don't really have a plan in general. It would be ideal for them to be in a completely passive investing situation in the next year or two as they prepare for retirement. Converting the equity into REIT shares is a really appealing option.

So my question is, how does one go about finding a local REIT that would be interested in working with us?

Also, what kind of professional can help me construct such a deal? Would this be a CPA? A real estate attorney? Estate attorney?

Thanks in advance, and sorry if I missed anything, this is my first post.