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re: question about commercial property I inherited and what to do with it
Posted on 12/7/23 at 10:23 am to thesabanizer
Posted on 12/7/23 at 10:23 am to thesabanizer
One play to consider in Spring is future value. You maybe best off relisting the one property for rent just to pay your bills and may a little money with the idea to sell them down the line with increased values.
Without knowing exact locations and much more info, its really hard to give you a clear answer. I wouldn't share that on TD personally.
I would personally suggest being very conservative here. Making a little money as a side hustle while you learn is better then losing a little or a lot.
Without knowing exact locations and much more info, its really hard to give you a clear answer. I wouldn't share that on TD personally.
I would personally suggest being very conservative here. Making a little money as a side hustle while you learn is better then losing a little or a lot.
Posted on 12/7/23 at 10:37 am to baldona
I thought about that and a friend said just keep it Houston is growing so fast you probably won't regret it in 10 years. As long as its rented id love to keep it, I just dont want it to end up needing lots of repairs, it is 34 years old I think? I don't know much about that part and/or it sitting empty and needing to come out of pocket for the taxes/electricity part while waiting for a tenant. I did the math it needs probably $3k/mo of taxes, electricity if vacant, wife and I are both teachers, we do ok, but that would be a sting to us if it was empty for a few months.
You guys have steered me in the right direction need to talk to some banks about loan options over Christmas break, talk to a few realtors about listing for rent possibly, and likely just listing the smaller lot as having some cash as a cushion would be nicer
You guys have steered me in the right direction need to talk to some banks about loan options over Christmas break, talk to a few realtors about listing for rent possibly, and likely just listing the smaller lot as having some cash as a cushion would be nicer
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