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Updated over 4 years ago, 06/03/2020

User Stats

230
Posts
122
Votes
Wendy Black
Pro Member
  • Investor
  • Phoenix, AZ
122
Votes |
230
Posts

Covid/Family Emergency Money

Wendy Black
Pro Member
  • Investor
  • Phoenix, AZ
Posted

Trying to help close family member who needs surgery and months' off at this very shaky time. The most likely candidate seems to be somehow pulling money out of a SoCal condo with the tenant now staying past the end of an 18-month lease and on an month-to-month, at least for another couple of months. It's positively cash flowing. We only owe $90k on it, and it's worth in the low $400s. As I recall, the mortgage was at 3.25%. We'd hopefully only need $20k. We had planned to do a 1031 on it (beautiful area, but the HOA keeps rising), but the situation obviously has changed because of the coronavirus. Any suggestions? Thanks.

  • Wendy Black
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