All Forum Posts by: Steve Hartkopf

What is your risk tolerance or what it is you want to do with your life/time? I've got about half as much equity, a similar amount in other investments, am a senior, and have decided to just ride "into the sunset" with my current position. My investments support my current lifestyle and will leave a nice inheritance for the kids so why accept any risk? There are days, however, when that strategy feels a bit passive/boring and, with money still "on sale," I scan the net for real estate opportunities. So far I've resisted the urge to "do something because I can" and, instead, accept Jay Leno's advice: "You have to smart enough to know when you've already won the lottery." 

Thanks Clayton and Jay (again), this is a new option for me so I'll be researching and may contact you (both), as well as other responders, with question. I really appreciate the quality of these responses.

Thanks, Dave. I've been landlord for almost 30 years but haven't done a 1031 yet although I've read a good bit about them. I'll check out your site today.

Nathan, good idea! Thanks.

Greg, kids on on other coast but a good property manager could solve that problem. Thanks for replying.

I "retired" 5 years ago but kept two rentals because they're in great locations, with great tenants, good (not great) cash flow and are appreciating nicely. My plan was to sell them when I turned 70, in 5 years. However, I'm exploring new exit strategies since mine results in a high tax event and, like all of you, I frickin' hate taxes. Any and all thoughts or ideas are welcome and thanks in advance for your help. 

In return for your help allow me to help for you: Note, I'm old and financially independent but I'm still learning and planning five years ahead, more actually...and so should you.

I'm retired but just refi'd one of my rentals. My reasons were simple: (1) Even after the higher payment from the refi I still have adequate income. (2) It never hurt to add to cash reserves for emergencies or sudden investment opportunities. (3) Money remains historically cheap so borrow all you can as long as you don't exceed your desired debt-to-equity ratio/leverage. (4) I can use the money for living expenses, basically, tax free.