Hello Biggerpockets,
My name is Josh Palmer. I find myself over whelmed with a sistuation that I am currently facing.
I have been planning on selling my home. With the sell of this home I will have approximately $140k in proceeds that i planned on using to invest with and start flipping houses. I had planned on buying a new primary residence that needs a rehab that i can get way under market value. Then pull a heloc of refinance it to do the next house. As i would.own this one out right. This i comfortable with.
I have been doing construction my whole life so the work is not something that I am worried about. I figured this would be a solid way of getting started.
However now I find myselfself with 2 homes. The inlaws are giving me their home and moving into a new house with me. As they are in their mod to late 70's and in declining health.
Now I am unsure on what to do now. Do I keep their house fix it up and rent or do i sell it and use the money else where to invest in another state I also plan on moving to another state as that was part of the plan from the start. I was looking at Arkansas but not stuck 100% on it. I just found a property that is on the river and seems like a place i would enjoy living. I am wanting to be able to stop working full time sooner than later as I would like to be able to spend more time with my family and enjoy life.
Any advice it very much appreciated.
