Real estate inheritance

[Cam H]

Hello all. I am new to this forum and was led here when looking for help in my current situation. I recently inherited house from a family member. The house is about 60 years old and has been recently remodeled. Im unsure about the value of the home. I know that it was valued at 65k before the remodeling. I believe around 15k was put into remodeling the home. The house has been paid for.

I was wondering what my best plan of action is for this home? sell, rent, borrow against house to make another purchase?

I am very young (22) and inexperienced with this. I am a recent college grad and hope to make the best of my fortunate situation. l look forward to hearing some opinions!

Thanks!

[Jeff S.]

At your age if you can keep the money tied up in real estate it is probably better off than having the cash to buy cars and have fun. If you rent it you can use the income for fun, if you choose.

I inherited money at your age and slowly blew it. A shame although I did learn how it does go away, a most valuable lesson.

There are many options, just be extrmely careful and stay away from the wrong girls.