Personal Finance and Investing

TreasonousBastard

(43,049 posts)

3. Assuming that you and your brother...

Wed Oct 22, 2014, 01:20 PM

Oct 2014

each net only $35K out of the place, I would seriously think of selling.

If you can each net $500K or more out of the place, that might be put into an income fund and you'll be safe from tax increases, capital expenses, etc. and still have an income.

But, you have to figure what rent you'll be paying and think seriously about how you can live off the income from the sale. If you can actually get the $2 million, you should have no problem living off your share.

You can't get much more advice from a discussion board-- you have to talk to an accountant, a real estate person, and an investment advisor. And your brother.

Good luck, though.

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Real estate question [View all] PasadenaTrudy Oct 2014 OP

I am confused. How do you collect rent on yourself? Are you saying that after you and your brother Tuesday Afternoon Oct 2014 #1

After expenses PasadenaTrudy Oct 2014 #2

that is nice of your brother. so then, you get a free place to live plus a bigger share of income? Tuesday Afternoon Oct 2014 #4

Yes, my brother and I are close. PasadenaTrudy Oct 2014 #7

Assuming that you and your brother... TreasonousBastard Oct 2014 #3

Thank you.. PasadenaTrudy Oct 2014 #5

where would you go? do you want to go somewhere else? what does your brother want to do? Tuesday Afternoon Oct 2014 #6

Thanks, PasadenaTrudy Oct 2014 #8

I think it makes a difference if you both have a plan/goals that you want to accomplish. Tuesday Afternoon Oct 2014 #9

That's true... PasadenaTrudy Oct 2014 #10

hey, no problem at all here. Tuesday Afternoon Oct 2014 #11

It is fun PasadenaTrudy Oct 2014 #12

This message was self-deleted by its author Hoppy Oct 2014 #13

Have you tried for S.S.I. Disability income? Get a referral from your county bar assoc for an att'y Hoppy Oct 2014 #14