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Old 09-06-2013, 11:24 AM
 
2,206 posts, read 3,792,030 times
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Quote:
Originally Posted by MurphyPl1 View Post
So... he wants to save these houses to let his daughters inherit someday? One gets a UP house and the other a house in Richardson. Granted, probably a nice house. I'd love to see how that will reading goes.
Liquidate. Sell them both and divide the money. Its the only way. Anything else and it is regret time.

Or, if the kids are good kids with a long view, then put them in a trust and find a property manager. Continue to add to the trust by managing and leveraging the equity.
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Old 09-06-2013, 01:39 PM
 
Location: Earth
794 posts, read 1,349,803 times
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I would keep renting out, it's a nice neighborhood with good schools and house is taking care of itself so they should pay off their other house and then decide.
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Old 09-06-2013, 06:55 PM
 
Location: Blah
4,153 posts, read 7,645,038 times
Reputation: 3053
Quote:
Originally Posted by TX75007 View Post
Liquidate. Sell them both and divide the money. Its the only way. Anything else and it is regret time.

Or, if the kids are good kids with a long view, then put them in a trust and find a property manager. Continue to add to the trust by managing and leveraging the equity.
This, especially the later if possible.

Quote:
Originally Posted by TX75007 View Post
If the rent is covering the expenses then this is a no-brainer.
Absolutely. If the rent is covering the bills, I would keep renting and finishing paying off the other property.
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