Should I Use an Inherited House as a Rental?
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- Опубликовано: 4 апр 2024
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So you have a paid for house your expenses are utilities taxes and insurance and you want to go into debt to buy a different house and keep the other as a rental, makes perfect sense to me.
Financial planning is like navigation. If you know where you are and where you want to go, navigation isn't such a great problem. It's when you don't know the two points that it's difficult❤
People dont understand that the prices of things are never going back down. This inflation is deeper than we think. Those buying groceries are well aware that the real inflation is much over 10%. The increments dont match our income, yet certain investors still earn over $365,000 in stocks and assets. Wish I could accomplish that.
Very possible! especially at this moment. Profits can be made in many different ways, but such intricate transactions should only be handled by seasoned market professionals.
Some persons think inves'tin is all about buying stocks; I think going into the stock market without a good experience is a big risk, that's why I'm lucky to have seen someone like mr Brian.
Finding yourself a good broker is as same as finding a good wife, which you go less stress, you get just enough with so much little effort at things
Brian demonstrates an excellent understanding of market trends, making well informed decisions that leads to consistent profit
I’d probably recommend staying in it for 5 years and then try buying a house with cash saved up. Being young with no mortgage or rent for that time frame being married would be a real luxury.
I rented 4 houses. I thought i was slick because one had 4 renters.
Then two of the ladies decided they cant pay rent, or wanted to move and then changed mind.
and then they are late with rent. So you sure as shit cant rely on them to pay YOU and you expect to use that to pay the mortgage that month.
You still need to be able to pay months of rent. money is just sitting there. Because what happens if someone doesnt pay. but tells you they will just be late. Then they will say they got in a car wreck and need to repair their car in order to work. so of course you will want them to have a job. next thing you know it is the end of month two. no payments. and THEN you have to file eviction. and guess how long THAT can take.
Yup, being a landlord isn't for just anyone. You need to be financially stable and have plenty of money to pay the mortgage on your own. Shit happens, people lose jobs, situations change, people get sick, ill, hurt, divorced, etc and can't pay their rent. You cannot rely on the rent money alone to pay the mortgage, ever!
Idk. A lot of that is your fault. Don’t own properties in these garbage states like California where you can’t get rid of nonpaying tenants quickly.
If my tenants don’t pay their rent by 5PM on the due date there’s a 24 hour notice to pay on their door THAT NIGHT. If they don’t pay in 24 hours with the late fee I refuse further payment and they’re out of the house in 10 days. Period. No questions asked.
@@j.g.mcbell9494I would agree with that tactic if they were bad tenants. Just because someone can’t pay at the exact date doesn’t mean they are bad or not worth having as tenants. I’ve lost my jobs a few times but never was late with a single rent payment myself.
My landlord isn’t exactly the best landlord around, but in the terms you at least have a week or two to pay with the addition of a late fee. Just saying people might need a few days to hustle the money up!
@@j.g.mcbell9494 I'm not trying to say "I don't believe you" but...what state are you in? Where the entire eviction process takes ten days?
And, not only do you have to worry about them paying the rent, you have to set aside money to replace that carpet or repair the door or a new refrigerator or a new roof. Everything wears out after a time. If you spend the money as fast as it comes in, you have nothing to make the repairs with.
Yep saving for all those rainy days is key to maintaining wealth with multiple properties too!
Right now its HER house.
amen to that
Wonder why that wasn’t Dave’s take. “Fiancé “ for how long? My husband told me to keep my inherited real estate separate and I should decide what to do with the income. He’s a good man.
Yeah, I think thats the problem, she's set if they break up, he's not.
If this is how all of you think about assets and marriage, then you really shouldn’t get married. “It’s her house” is such an ignorant statement for a couple that are about to get married and need to figure out where they will live.
@@dawnrayecain4312Your husband is a coward, and you are a selfish spouse. In marriage, assets should be shared and decisions should be made together. That’s what it means to be a partner.
Hes not married ...its her inheritance butt out man
Unless they sign a prenup he'll be entitled to half that property as well hahaha. That's equality for ya lmao
True, except it is his business because he may have to live in it… That makes it his business but yes, it is her property
They’re getting married in a couple months and making plans for their future, just as is wise, you weirdos
@@yaboijuan4052I think inherited properties should include special protections legally, no idea what laws apply uniquely to them though.
@@yaboijuan4052 no, inherited property is considered separate property, not marital property.
I really don’t agree it’s a paid off home why wouldn’t they follow the 15 year plan then there’s little risk because bc even if the tenants pay I don’t know I feel like his method isnt really logical to me I agree with the caller
Because you can sell the home for 750k. Spend 250k-300k cash for a nice home in a cheaper area. Use the rest of that money to buy another home and rent it out, or me personally i would create a dividend portfolio (i prefer getting paid monthly without dealing with people) and use the dividends to fund my lifestyle. While i work another year or 2 at my job and save up that money, then retire
Too many people think debt is good and not patient enough to save with cash. Debt is the devil hidden in the form of credit
Amen
Yes!!
I really like the callers plan. I mean, they are a young couple with no kids, a $4k rent property must be huge! They do not need that type of space neither the expense attached to it ($1500 monthly). They could easily rent a place using their own income and save those monthly $4k to build up their Down Payment and get a loan in 2-3 yrs that can pay using the same rent of the property. The only thing I don’t like from his initial plan is to get into debt too soon but beyond that I like it. I do not like Dave’s suggestion. I wouldn’t kill any of that income just to move in, that’s dumb. I could find a more private place for me and my spouse for kind of the same money I’d be saving if I move in.
Keeping it as a rental isnt the issue. Its going into debt/getting a loan and buying a home. Which i agree with. Its not about if you can afford it. Its about if you are debt free or not.
100% downpayment is genius. Thanks Dave 🙏🏻.
Right! So easy to save up 400k nowadays! Its like inflation never even exists!
It depends if they want to be landlords. I would still move in for a few years to save a ton of cash to either buy a home with cash or have a massive down payment, sell the rental and just move it to a mutual fund so it can still generate cashflow without the headache of renters.😊
Marry, live in the back part and rent out the front until there are enough kids to fill the house. Doesn't seem difficult for me.
Coral Gables? That is a pricey area!
It might be a beautiful house. One tenant is no big deal to manage, and having them in close proximity to one another can make managing the tenants a bit easier.
One GOOD tenant is no big deal to manage
You want to be close but not too close. You don't want them knocking on your door at 2 am.
Does it make any sense to live in a house of that size and cost given their income? I’m guessing probably not, but that makes a big, big difference.
Does it come with tenants? If it’s got those good, longstanding tenants then that’s a heck of a deal to keep going. Wouldn’t kick out good, long time tenants to live in it for just a couple of years.
I have 3 rentals here in the Bay Area and all paid off. I will sell as soon as retired from my 9-5 in 8 years when I hit 60. No more dealing with tenants and repairs and property tax…..
i wouldn't. just hire a property manager and hold. also, property tax is easy, just raise rent.
Have fun getting hit with a major capital gains bill
@@dbdb4962Exactly. 😆
My two partners (25% each) and I (50%) sold our 26-unit apartment complex in Glendale, Calif. in December 2023. I used my portion of the sale proceeds to purchase retail and Class A office properties in Coeur d'Alene, Idaho. California's increasingly hostile anti-landlord policies made owning the apartment complex more and more challenging and less and less profitable, so it was time to get out. My newly acquired properties are occupied by local locations of national companies on long-term leases. They're on triple-net leases, so the tenants pay the real-estate taxes, building insurance, maintenance and utilities in addition to paying rent to me. Best move I've ever made.
Will move into each and every one of them for 2 years. Saves $500k each in cap gain. Then just pay the rest of cap gain. Fortunately I paid $300-450k each of these and each worth at least $1.2-4M. Meanwhile, the rental income during the last 20-25 and the future 8-10 years are quite cash cows. Paying Tax is okay as long as you make good money during and after the transition.
Agree with Dave. I have a real estate portfolio and I've had tenants with little kids get diagnosed with cancer. Things happen that you wouldn't expect.
Caller.... PLEASE don't ever sell. You'll vastly excel your wealth by keeping it and renting it out. Look at the history of the rental income, I'm sure it was much lower than 4k per month. It'll continue to get higher with inflation and eventually be 4.5k, 5k, 6k etc.
Thank me in 10 years lol
This is her house! She is bringing $750,000 to the table. What are you bringing? This is her’s.
Once they are married it is there’s. Period.
Marriage isn't a business merger 😂😂
The real question is can this couple afford to be landlords if they keep the house. The margin will be thin on $4k if they don’t live there and nonexistent if they do (needs both units to see $4k). He wants a first time buyers loan on a separate house, so they either don’t have or don’t want to spend money on a down payment. Florida is an opt-in community property state, so better to be clear up front about who the rental belongs to.
😂 he’s got a lot of plans for HER inheritance the one thing that isn’t combined in marriage
I didn't know inheritances were not combined in a marriage. I am in BC, Canada and always thought that things were combined, but I don't have the full facts.
@@kyungshim6483the caller is not married.
@@kyungshim6483she got it before the marriage so it’s hers. If they break up she keeps it. If they got it after the marriage it would be both of theirs
It depends on the place different countries have different laws around it
@@ethanmeyer1764 that’s not true. It’s mostly never marital property
I have heard a lot of horror stories about renters...didn't realize these people had so many rights, it's crazy. .great when you have a good Tennant, nightmare when you don't!!
Owners have no rights
Never heard of squatters or their rights until lately. How did the world come to this? Crazy society we live in today.
Go ask Robert kiosaki the same question please
My older sister had some rental property.
When I considered it, she said you have to be ready to completely remodel the place after renters move out -- in case they trash it.
I decided not. After a little while she got out of it too.
You don't have to remodel it. Maybe some repairs.
Taxes and insurance in the Miami area are going bonkers! Sell it!
Also, your fiance's inherited property is her "separate property". So selling her separate property so that you both can buy a new property in both of your names, is also wrong for your fiance's best interest. I'm very surprised that Dave didn't mention that to this caller.
important for him to sell the brand to younger people struggling in the market
But if he earns a bunch of money you’re prolly fine with her taking half of it on the way out.
?????
I asked my wife, if she wanted to be a co-owner of the home, we lived in (I owned it prior to marriage).
She said YES and signed legal papers.
Dave doesn’t believe that. He believes marriage is for life and everything that is hers is also his and everything that is his is also hers.
@@aolvaar8792why did you give her half a house just like that? Why was it even necessary to make those changes. If you die, she inherits the house. If you divorce, she doesn’t deserve half the house.
If the area is nice and the house is large enough, just stay and save. I fear they sale the home and just it for a down-payment for an even more expensive home.
Squatter factor. Will keep my money in the stock market, rentals scare me.
Do you have odds on squatters? They are a risk, but do you know the odds of encountering one?
Florida, where this house is, just canned squatters
She should get a prenup and make sure the house stays in her name and does not become shared property - because she got it before the marriage.
Don't need a prenuptial because it was a inherited house so it stays with her no matter what
750k, they basically going to be millionaires in no time thanks to that inheritance
They will be in debt
The government will fix that
the end of that quote is its never the liquor or the ladies ... its the leverage
Miami properties are getting slammed with high taxes. Sell it and buy multi-unit rental property in another state.
The down side of selling it he’d have a paid for house, job income, but would be losing rental income…. Instead of staying and having all 3😏
Sell the house for 750k and move to a cheap state and buy a nice house for 200k and buy 4 rentals for 100k each.
Great time to sell, why would you want to be a landlord?
Has anyone discussed capital gain tax issue with inherited real estate. Probably should sell the same year he inherited it. If not you will take a massive hit with capital gain taxes. Also, paying thousands per year on property tax. It was originally worth 100k and now worth 700k so look at that gain. It is smart to live in it for 2 yrs and then sell and that can avoid capital gains. Or rent and then live in it for 2 yrs before selling.
Where in the dickens are you getting your tax advise? IRC Sec. 1014 clearly states that inherited property receives stepped up basis
@@mikederucki yes the starting basis will be what the value is on the date of the death of the family member who owned the property. But if he holds the property and then sells years later there will be a capital gain and the way property is increasing value these days it can be significant. My brain was thinking that the property was 100k after the death and now worth 700k but I listened again and they said the family member paid 100k originally so you are correct
Propery???
Imagine the life you could live with no mortgage at their age. If they do things correctly they will be young millionaires in no time
Awe hell No, I wouldn’t sell my inheritance and buy an home with my new husband. You need to keep that money separate bc once it’s intermingled with new husband it’s his too!
ah yes always separate right? just claim he gr*aped you with no evidence then you get all his stuff too. funny how that always works
In any case, it is wise to keep inherited property separate (whether his or hers). If divorce happens, she will have this property to live in and leave to her kids, whether it is his kids or someone else's. If it is mingled in community property, she will lose control over it and a new wife's kids may get it. This would apply if it was his inherited property.
@@KENTUCKYUSA1That absolutely should not happen…..as her family willed that property to her that they sacrificed so much to obtain.
You will never be married with this mindset
@@TheRealDealNeal Oh, well, maybe not never. I have been married for 47 years and still have this mindset. If you have kids, inherited property should be kept separate and passed down. I have seen divorce create disasters when this rule is not adhered to.
I have to say I’m not a millionaire, nor am I poor but I will say as of 2019 I payed off a 30 thousand truck in 9 months. As of March 7 I had payed off a 1/2 acre property with a mobile home and a 2 car garage!! Yes I’ve had a hard life, but with the Holy father in heaven letting my mother giving birth and the lord Jesus Christ that had died on the cross for my sins, I feel blessed!! To top that off I never graduated From school, for I learned a lot after the one and only marriage of 26 years!! God had given myself , dedication, motivation and determination!!
Anyone else notice the title says “propery?” Lol
*Everyone should note: Under Florida law, an inheritance is considered separate property; meaning it belongs solely to the person who received it - even if they're married.* I'm seeing about 99% uniformed people in the comments who think this is just about marriage and who wears the pants.
Why don't they live in the house and use that rent-free time to save up and buy a new house with cash? Then they can keep the inherited house and continue to rent both sides again. I would love to be able to do that 😊
Wise counsel from Dave once again. 👍
I'd live on 1 apartment. And rent out the other half for a few years.
Then after a few years, convert it back into a 1 family house.
He's making like $1,250 on each unit. So put that on the side for it.
Or just keep it as a rental. Invest the 30k profit. In 30 years, they would have 5.5 million.
It will be a lot more, because rent will increase.
Or in 20 years, they would have almost 2 million. They can then retire early.
Dave loves to talk people out of rentals.
Hey Jimmy, it is because most fail at it, but you know nothing about being a slumlord
Dave hates when people become landlords lol. Hes always about telling people to sell their house although they would be better off holding. He holds property. But you shouldn’t lol.
He hates when people owe money. @@beatdown3361
@@beatdown3361 Might want to take a bankruptcy attorney to lunch and have a chat about all these awesome money making landlords that file bankruptcy
@@beatdown3361Yep! Hypocrite!
Must be nice to inherite 750000$ i inherited a 3000$ debt on a storage shed and 89$ in my dads account lol
You can't inherit debt. You shouldn't have had to pay that....unless you had your name on it with him prior to his death.
@@penguin12902 its called doing the right thing my grandfather loaned him the money to buy it so i paid it off
its really stressful being a landlord. I would sell it and get a new smaller place for less and get saving
How so? Rental management companies and rental insurance, and sit back. How hard could it be
In ten years as a landlord, my tenants never missed a payment even throughout Covid. Hire a property manager. Dave is full of crap.
You still need to manage the manager.
@@amireallythatgrumpy6508 No you don't. You don't shit do you?
@@quychang4471 You're not very bright are you? Typical American.
Congrats you are the anomaly...I know plenty that had nightmares.
People just get into this business without knowing a thing ! It’s a business like any other. Knowing how to get good tenants takes great skill…Successful Landlady for 45 years! Best Investment for me
Liquor, Ladies & Leverage 😂😂
Dave how could you bait and switch me like this. The thumbnail had a hoodie and you show up in a button down?
What I don’t get is why people add the value of their heavily leveraged rental properties into their net wealth. I see people all the time claiming they own X amount of rental properties with nothing down and they are worth millions now. No you’re not, the bank is.
They must not understand the "net" part of the term
Maybe it's because I don't live in the past, but I don't understand the mentality of people wanting to hold onto a house their parents/grandparents owned. It would just bring back weird/sad memories to me. Kind of like hanging out in your old HS from 30 years ago, that is now sitting vacant. Sell it, and move on with your life.
Ya, but don't put fiance on deed then. It's her inheritance, her house
Some people get nostalgia, others don't. I would love to live in my childhood home, but I'd have to tear down the addition that other owners put on it. It was a really happy time and a lovely past to live in, even if it would only be at night, after work
Don’t get more debt.
Sell it and buy something for $950k etc
No, I'm not moving in on the other side of the wall from my tenants.
My buddy has had a duplex since right after high school and has had a tenant in the other half for 20 some years. The rent covered the mortgage and utilities and he paid the taxes until it was paid off, and now he lives for free plus an income he uses to update the property, because the rent covers way more than the taxes. I'm sure there's annoyances, but if you can pick good tenants it's a good way to live cheap.
Dave please talk about the out of control OCCUPATIONAL LICENSING for k-12 teachers that's why we have teacher shortages I'm the author of EIGHT DAYS IN AN INNER CITY SCHOOL
Do the simple math here:
Caller said the rent yield is $4000/month - or $48,000 / 750,000= 6.4% gross
Insurance will run about $7000 due to the current insurance market conditions in coastal florida - that's now only a 5.4% return
Property tax in Miami ~ 1.02% = $7650
After tax and insurance alone this yield is down to 4.4% and we're not talking about any repairs or time hassles.
Depreciation adds 3.636%
Most guidance says to reserve about 20% of gross for repair/maintenance/rent contingency ~ $10k of the rent
The very very best they can do AFTER depreciation with 15-20% reserve contingency is about 5-6% before hassle factor.
T-bills right now pay 5%
That said, with the emotional connection and all that I’d probably just go with living in one side and renting the other. Sounds like a fine middle ground to me
Good analysis, but you aren't factoring in appreciation which from my experience tracks around 10% per year. It's also good to have rental properties as a hedge against inflation and as one sector of a diversified investment portfolio. I've found that in a recession mid to low rental properties do quite well and complement traditional stock market investments.
@@rentalproperties8598 Good point!
5-6% cash on cash return on a rental before appreciation is EXCELLENT. Absolutely KILLER.
The person may not be reliable in paying it risky
Dont be a renter..after expensive taxes, insurance and repairs youll have made more just having money invested in the market.
“Propery “ ?
Miami market is out of control he needs to move into the home lol
I would keep the house, with how things are going up. i would be so happy to have my own property and some simple repairs. No mortgage. I mean, I would keep it. Their also not married yet.
7:10 60% of the time, it works 60% of the time
I don’t want to move into a house that is paid off. Really dude your slow very slow.
Rental is risky . You can do all the credit checks and background check you want. Still can be problematic.
How’s gold doing Dave 😂
Your taking a risk when renting it out you may get someone that a squatter then you can🎉 get rid of them
I’ve heard to many stories of tenants not paying and people squatting in empty houses. No way I’d be a landlord now.
House is in Florida and squatting is not possible in Florida
@@melinda67 It's still possible in Florida, it's just easier to handle and get the squatter out. That doesn't stop people from squatting in the first place.
@@amireallythatgrumpy6508 even as a landlord though. I know my wife used to work in real estate and worked for an agent who had a lot of rentals. Some of the stories about how hard to get people out who weren’t paying. Also stories about they went into houses after people left and people had gone to the restroom in the carpet.
She told one story about people who left a freezer in the basement. She said they walked in and the smell from the home was terrible. They walked into the basement and the power had apparently been cut off, and a blood trail was coming from the freezer. I guess the people apparently left a lot of meat that had thawed out and rotted. Even the local police officer from what she said was about sick and didn’t want to go in.
I inherited my parents house and rented it out twice for very limited periods. Both times to people referred by a friend, and that just needed a place while they were building/buying their own home. I had zero problems but never again. The money just isn't worth the hassle and I didn't have it to use as a summer get-away.
What a gift to not have a mortgage in the first few years of marriage, with the opportunity to save for future goals! This caller is thinking too short term by wanting to take the huge risk of taking on debt from a mortgage. It's not wise. Dave speaks financial peace. Best to start marriage with a solid financial foundation if you have that opportunity.
Lol he never wants anyone to have additional property
She inherited it. It is her's. Not his. Even when they marry. It will still be her's.
So if they divorced its still hers?
None of the upkeep from marital funds.
Put the house in a trust with growing money
to pay for expenses, PRIOR to marriage.
@@Luis-mz6dx Yes.
@@aolvaar8792 I don't think marital funds for the upkeep would make it also his.
This house is cash flowing itself.
@@aolvaar8792 I don't think that him make him half owner.
But it is cash flowing itself.
Propery threw me the whole video
Stop this shit with renting out everything. Sell it to a new couple so that they can have a house too.
Not if you're in California or New York. You'll never be able to kick them out if they stop paying rent.
where can you
Florida is a lot better.
Wrong.
@@Fc9ers I'm in Colorado
@@Glennpoythr my father is a landlord out in California. The crap he has to deal with from people that sometimes don't want to pay is annoying.
LOL. He says "me and my fiancé... we inherited a house from her grandparents." Make no mistake, SHE inherited a house. Hopefully, she does everything she can to keep it sole and separate property at least until they're married, and possibly longer, so that she isn't calling The Ramsey Show a few years from now.
Without listening I'm sure he said sell it. You have no clue what you're doing. Let's see...
Nailed it
Hire this guy to translate the callers who have no clue how to convey their thoughts effectively & get dave better hearing aids
It's why I don't listen to the show 999% of the time. I cannot stand low iq callers.
If I were her, I would keep that place as rental and keep the rental income separately. For now they’re not married and many things can happen between now and walk down the isle.
Capital gains tax on sale??
Stepped up basis on inherited property
Wouldn't she only have to pay on FMV once she inherited it?
If you let her deal with the renters she will sell real quick ...
Just a property, don’t get attached. Way too young to talk property rentals.
If you sell it now, no inheritance tax. If you wait to sell later a $500,000 piece of property, you will lose $100,000 in taxes. SELL SELL SELL!!!
Check with your accountant, but I’m pretty sure you have to sell inheritance property soon after receiving it
Wrong. If they property is worth 750k now then that is their cost basis. If they live in the house and sell in the future the 1st 500k is tax free, so they would only owe taxes on anything over 1.25 million.
@@FooFan-b3k they need to talk to an accountant
Just be grateful someone left you something. I am so envious of people who get houses and trust funds. Had to do it on my own.
Why are you envious though? Getting an inheritance is how it should be. You could be happy for them and their parents who decided to do reasonable things and set up their kids for success. They didn’t do anything special
You shouldn't be wasting energy on being envious of anything! That is part of their walk in life, just focus on always improving yours and serving God's will
Renters can destroy your property🤯 Been there, done that. Never again.
Best to stick with nicer properties.
I'd sell
It's like he was born after covid where rent was cancelled for Year
I've been a landlord on multiple properties for over 35 years. Not everyone can effectively be a landlord. It is a balance of being people-oriented but also being very firm and businesslike. I think this young couple has a perfect opportunity with low risk of seeing if they have the aptitude for landlording. Live in grandma's house and rent the other unit and try it out. If they are disciplined, they will build wealth relatively fast and decide if they want more rental properties or invest else ware.
It’s Not His Property! They aren’t married! I hope she’s smart enough to keep it her sole and separate property!! I’m 71 and would not advise to marry someone who is already determined what to do with HER PROPERTY! I own income property and have had 2 ex husbands try to steal it during divorce! They both benefited from 100% profits during the marriages!!!
Btw I bought that property in the 70s by myself and it’s always been rented!
This makes me sick. Women steal from men during every divorce. Your nuts lady!
Dave says when you get married, your money becomes our money. Good to see men benefiting the way most women do.
It's a woman's way they do not share their gold.
Oh yeah? I support my wife 100%, she stays home with our kids, and she's never worked outside the home.
By your logic, everything is mine?
@@mikederucki Lol they don't like that talk. The more it's discussed the more it's apparent the double standards.
How about keeping the house, save money and renovate the house into a single family.
SELL SELL SELL, just my preference. I don't want to deal with issues and people
It’s not his or your decision…It’s Her Property! They’re not even married!
@@rosemontoya3656 Have you ever been a landlord? The wife isn't even on the call, proof right there she can't deal with people
It's not YOURS. You have a GOOD INTENTION but by the end of the day.
AGAIN IT'S NOT YOURS 😒
This dude transformed into sweater wear....no.
Based on that logic Rachel should sell Ramsey Solutions when Dave dies. She didn't set out the start the company but rather just inherited it
I don't agree with selling the rental, i would move into one side, keep the other half rented out, live rent free for a few years and pile up a massive cash stack to buy a nice home to move into, or even a massive downpayment and keep the rental.
Literally this
All these comments about it being HER property and HER Inheritance I think missed the point.
First, I heard the caller as more wanting to help settle a dispute between him and her. This is their first big money dispute in their relationship and he wanted a second opinion which is fine. Clearly they are doing things the right way and talking about what this would do for their relationship rather than just "it's all mine I'm doing what I want with it."
Second, it would only STAY her separate property if she kept it that way. Which means once they do what SHE WANTS which is to move into one of those apartments as their primary residence as a married couple, it could then be considered joint point property by law. If joint funds are used for repairs, it is not considered joint property. She would have to rent it out, do all the maintenance and such herself and keep all income from it separate to keep it as her separate property. Which she COULD DO a lot easier if she SOLD it. However, that is not what she wanted to do per the caller, that is what HE thought would be best.
take the seven fifty and by a house for three hundred and put the four fifty into the market. in seven years you will be debit free and probably worth close to a million without lifting a finger. You can do this on a tax free basis because you have the step up in value of an inheritance. SEE AN ACCOUNTANT. (P S You will not have to take water heater calls at 3:00 AM)
There are no homes or apartments that cost $300k in Miami so this wouldn’t be an option for them
So rude
Racheal's husband does Dave's real estate, and have his own real estate. Isn't that a conflict of interest?
No.
@@amireallythatgrumpy6508 I concur.
Winston reassembles a great "YES-MAN"
I'm sure he honors his fiduciary duties. 👍
NOT your property buddy. He sounds real enthusiastic over something that’s not his. Girl you better watch him.
Well it will be theirs in a couple months. He is doing what guys do, look to the future and planning.
He's formulating a plan. Wtf is he supposed to do?
@@UnicornMeat512 they won't answer you because they would have to go on some nonsense about empowering women and toxic masculinity.
@@UnicornMeat512 you sound dumb
@@UnicornMeat512 if it was him with the property you little men would be calling her a gold digger. Like I said he sounds way too enthusiastic about something that is not his
Rachael's resting face is very sad looking 😢
Do women always have to smile?
She's seemed concerned at times for any curve balls the caller was about to throw at her 😂
Early 🎉
😄😄😄😄 That's a new one!!