Diversifying your portfolio could reduce risk and improve overall returns.Higher Cash Flow Potential: If you redeploy the equity into markets with higher cash-on-cash returns, you could significantly increase your monthly cash flow.

It is a new construction where they will not reduce the price in lieu of broker commission to keep their comps high.

Selling at FMV avoids the gift tax but provides your child with a higher tax basis, reducing their future capital gains liability.A better strategy for selling below FMV is to sell the house at FMV on an installment note, then forgive interest and principal annually up to the gift tax exclusion amount.

That would be a helpful addition to your plan as you would further reduce your cost of living.Also don’t forget from that $600 you are planning on getting in cash flow you have taxes, insurance, maintenance, capex, and vacancy to consider.With two homes, you may want to keep that extra $20k as an emergency fund rather than spending it on a third property and then be left with no emergency funds.

They already lost some major players due to the state capping rates https://www.foxbusiness.com/lifestyle/california-insurance-c... will all insurance companies stop coverage, raise rates or reduce what they cover?

If you have extra cash at the end of the month, then do double up payments on the mortgages so the principle is reduced and this will increase your heloc room.

Hello everyone, I am reaching out to the BP Community for suggestions.My Portfolio100% owner of 7 SFH PropertiesGP in about 30 SFH properties(of which I own somewhere between 25% to 50%)All but two properties are managed by a PM CompanyNet worth of the above is about $2,000,000 - $2,500,000My IssuesI have many SFH's - Which take up time(Currently spending time paying property tax and insurance, requesting quotes on insurance policies and overseeing the PM Company(approve rent increases, approve renovation projects, etc).They also take up head-space(having to remember property addresses, remembering when property taxes are due)(I have reminders/systems but something I would like to reduce)Goals1) Spend less time on Real Estate2) Free up head-space2) Make $240,000 annually from real estate(Which I think is not to hard if I can increase my net worth and can get an 8% return)Possible Solutions1) Sell all the SFH's and buy 4-Unit Properties to take advantage of conventional financing2) Sell all the SFH's and buy one large apartment complex3) Sell al the SFH's and invest in syndications4) Sell all the SFH's and purchase stock / bonds5) Continue to hold all the SFH's6) Any other suggestionsOther Considations1) Should I consider private notes?

They are much less restrictive than other municipalities in South Florida that are actively trying to reduce the number of STRs.Let me know if you'd like to talk further on the topic! 

You start with a purchase and sale agreement and reduce everything to writing.

Increase your earnings, reduce expenses, save up, and invest.