All Forum Posts by: Bruce Reeves

Lot of variables in this question but I'll try to keep it simple. My ability to retire depends of course on an income stream. Current plan is to sell my home and use the equity to pay off my rental property. The duplex rental currently rents for $900/side, so $21,600/yr gross total. I will have other living arrangements, so I do not need to replace my current home with another.

Feel like there may be better choices to use the approx. 100k to create an income stream similar to the duplex. Thinking is, can I use the money to create a similar income and keep the duplex so my tenants will be paying it down for me. Hate to stop other people from creating more wealth for me which is what I feel like I'm doing by paying it off. 

Look at four-plexes? Bread and butter 3/2/2 in my area are around 130k with monthly rent about $1,100, so hard to replace the duplex income with 100k down.

Thanks for any help with my plan which hopefully goes into affect in three years!

I need to find someone, for a fee, that will look at my particular situation and give me advice on an investing strategy. I have my ideas, but need some input before proceeding. How do I find someone like this? 

The executive summary - my company's local office closed and I get to work from home now. So total freedom to live anywhere there is internet connection. The variables. Have 100k equity in my house. Have a rental duplex 114k owned. Want to keep the duplex, it's been a good rental and when paid off, will net $1,300/mo. Want to sell my house and rent a house near a lake or river. Talking $800/mo or so. Very doable in Arkansas. Single Joe, so I don't care if it's a 1 bd, 1 bath. Current house would rent for $1500/mo but expenses also $1500/mo, so not a good candidate to keep. Thinking of buying another duplex with 60-80k down to cash flow or a SF. Don't want fixers, only nice properties that attract good tenants. Been a landlord for 20 yrs, so I have some experience with crap property and what it attracts. 

So what advice with 100k in my back pocket and wanting to get a decent return instead of parking it in traditional investments? Thanks for any guidance.

I am eliminating a floor register. What is the proper way to close this duct branch? Do I simply cap off the round duct work at the end or do I need to take off the complete branch (only register on this branch) and seal the opening at the main duct?

This is in a crawl space with easy access.

Thanks for any advice.