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Updated almost 4 years ago,

User Stats

3
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1
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Ryan Wuethrich
1
Votes |
3
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Good Problem To Have But Need Advice

Ryan Wuethrich
Posted

First post.  

I'm looking at starting a RE investment career.  My wife and I currently own two properties in SoCal.  One of the properties is paid for and the other has about 40% equity.  We have owned a few properties over the years but don't consider ourselves RE investors(yet).  We have a number of items to consider that are coming up that I'd like to get advice on.  Here's a list:

We are desiring a move out of CA. Considering SC, TN, GA, NC, MT, SD, ID.

Wife is set to retire from her current job in the next few months with a fixed pension. Is looking to get a different job once moved.

I would be leaving my current job and want to begin RE investing.  But, also willing to work a W2 job.

We both have 401k balances.

We have a 17(Jr.) and 18yr(Sr.) old still living with us and a mother-in-law(who does pay rent).

Should we sell paid off rental property, or cash-out refi?  

Should we sell both properties?

Timing is likely important.  We were initially going to move first and get work after moving.  We thought we'd buy a primary residence and then look to take on jobs or RE invest to generate cash.  I'm not sure what direction I can take to invest in RE if I don't have a W2 job.  My first thought is to partner with someone since I'd have funds and desire but have little experience. 

Anyone have any thoughts on this?  Are there other things I should be considering? 

Thanks!!!

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