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Updated almost 8 years ago on . Most recent reply
Where Should I Start?
I am retired and own a home in northern Idaho and another condo in Hawaii. Both a free and clear. I used to rent the Hawaii property full time now I split my time between both. I rent Hawaii when I am not there. I have approx $160K in passive losses in Hawaii condo. Trying to think of a strategy to utilize the passive losses by buying another rental property. Anybody have any thoughts for me?
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There's not much information to go off of but I'm guessing if your condo isn't making you money then I wouldn't invest here. Doesn't seem like your cup of tea. I would take that money and use the BRRRR strategy in your area and go from there but then again maybe buying houses and having rental properties just isn't your thing either. Have you thought about being a money lender? You will take a much more passive role but still get decent returns on your money and wont bleed out like your condo did.