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Old 06-05-2018, 06:18 PM
 
Location: Texas
1,265 posts, read 552,419 times
Reputation: 6803

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I am sorry for your loss.

I agree with MrRational. Don't rush into any big decisions in the near future. You've got more learning (and earning) to do. Properties will still be there when you're better prepared.

And do not discount how your dad's death may affect you. Take some time.
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Old 06-05-2018, 06:20 PM
 
Location: Texas
1,265 posts, read 552,419 times
Reputation: 6803
Quote:
Originally Posted by Kavalier View Post
Well I'm possibly literally going to be on the street once all this stuff is sorted out.

Got nowhere to go. So you think I should start renting a place myself and flushing that money down the toilet?
You know, you can buy something hastily and still "flush that money down the toilet."
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Old 06-05-2018, 06:36 PM
 
595 posts, read 378,219 times
Reputation: 1021
Hi Kavalier,

My sympathies to you on the loss of your dad. It's a rough time right now for you, don't make any big life decisions right now, it's not time.

You and your siblings will need to work together to liquidate your father's estate, I hope there is a will and trust set in place.

You have some time and I assume some monetary proceeds from your father's estate coming to you. Once thing's are settled, sold and assets dispersed, I would take some time and think long term about what is best for you. I suggest speaking to a financial advisor about this. You may be able to invest some of your inheritance in to tangible investments, possibly some in to a Roth IRA and some in to a vocational education/training course/class.

You can rent a small place for as long as needed once the house is sold. Take your time and invest in yourself, everything else will fall in to place once you do that.
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Old 06-05-2018, 06:50 PM
 
Location: Minnesovia
2,514 posts, read 645,682 times
Reputation: 1536
I appreciate all the advice/comments.


I'm going to try to think of as many people as I can that could steer me in the right direction on these buying/selling/renting issues.


I don't have many close people to me though - not many close friends (anymore) and so this is new to me.


I think someone said there are resources for people like me that don't make a ton of money? Government websites/agencies that can help me in situations like that?

It might have been on the other thread I started in this forum back when, some time.


If anyone here has any resources (online or otherwise) you could give me, I'd appreciate it very much.


K
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Old 06-05-2018, 07:07 PM
 
595 posts, read 378,219 times
Reputation: 1021
Quote:
Originally Posted by Kavalier View Post
I appreciate all the advice/comments.


I'm going to try to think of as many people as I can that could steer me in the right direction on these buying/selling/renting issues.


I don't have many close people to me though - not many close friends (anymore) and so this is new to me.


I think someone said there are resources for people like me that don't make a ton of money? Government websites/agencies that can help me in situations like that?

It might have been on the other thread I started in this forum back when, some time.


If anyone here has any resources (online or otherwise) you could give me, I'd appreciate it very much.


K
https://www.stpaul.gov/departments/p...wner-resources
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Old 06-05-2018, 07:17 PM
 
Location: The Triad (NC)
26,903 posts, read 58,020,547 times
Reputation: 29341
Quote:
Originally Posted by Kavalier View Post
...that could steer me in the right direction on these buying/selling/renting issues.
The right direction is to put them aside.


The first counselor to find is the lawyer dealing with your fathers estate.
Sit down with him FACE to FACE 1) to learn what's happening
and 2) for his counsel on where you should/can move to while you get on track with the job stuff
or 3) to help you find that job stuff counselor help you need.

These things are all you need to focus on for now (June?).
Come July you'll know where you're moving to and what you'll be doing there.
Work hard.
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Old 06-05-2018, 07:23 PM
 
Location: Minnesovia
2,514 posts, read 645,682 times
Reputation: 1536
Quote:
Originally Posted by MrRational View Post
The right direction is to put them aside.


The first counselor to find is the lawyer dealing with your fathers estate.
Sit down with him FACE to FACE 1) to learn what's happening
and 2) for his counsel on where you should/can move to while you get on track with the job stuff
or 3) to help you find that job stuff counselor help you need.

These things are all you need to focus on for now (June?).
Come July you'll know where you're moving to and what you'll be doing there.
Work hard.
I don't want to give you the idea that what I do for a living is easy - what I do is a high turnover type of job and I do come home sweating every night.


What I like about my job is I'm not working 60 hour weeks. Moreover, It leaves me time to sell my particular niche on eBay.


It revolves more around the hours (or lack thereof) I work a week. I did talk to my supervisor and he did relay to me that he could bump me up for 40 or more hours a week.


I hear what you're saying though, I do. Every piece of advice you're giving me is something I have to consider. Thank you.


Quote:
Originally Posted by photogal9 View Post

Thank you.

It's going to take some time to read all the things I need to read and to get comfortable with all the resources/steps/avenues I have to explore.
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Old 06-05-2018, 07:31 PM
 
Location: The Triad (NC)
26,903 posts, read 58,020,547 times
Reputation: 29341
Quote:
Originally Posted by Kavalier View Post
I don't want to give you the idea that what I do for a living is easy...
Easy or hard is immaterial. It's whether it accomplishes the goal.

Per your earlier statement about your "don't make much money" problem
it isn't accomplishing the goal. So fix that somehow or do something else.
Get help making the decision.

Start by meeting with the estate lawyer your Dad had reason to trust.
Email now or call him in the morning to ask for a prompt appointment.
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Old 06-05-2018, 07:36 PM
 
Location: Minnesovia
2,514 posts, read 645,682 times
Reputation: 1536
Quote:
Originally Posted by MrRational View Post
Easy or hard is immaterial. It's whether it accomplishes the goal.

Per your earlier statement about your "don't make much money" problem
it isn't accomplishing the goal. So fix that somehow or do something else.
Get help making the decision.

Start by meeting with the estate lawyer your Dad had reason to trust.
Email now or call him in the morning to ask for a prompt appointment.
Appointment with my siblings in the morning. I had them push it up from Friday, as I felt the sooner the better as it would make some of my decisions a bit easier.


My dad did have a will. Estate split evenly among us.
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Old 06-05-2018, 10:27 PM
 
941 posts, read 408,627 times
Reputation: 2305
Quote:
Originally Posted by Kavalier View Post
Well I'm possibly literally going to be on the street once all this stuff is sorted out.


Got nowhere to go. So you think I should start renting a place myself and flushing that money down the toilet?
Iím sorry about your father

Rent an apartment for a year and do reading and research into landlording and contracting or a property management team, depending on how hands on you want to be. Watch your local market carefully and invest in something a a little closer to market ready first to cut your teeth and get used to the process. Donít take on a big and difficult project right at the beginning.

Listen to and read A LOT from Paula Pant, her focus is residual income from rental properties and she has a ton of fantastic advice and how to:
https://affordanything.com/money-magazine-feature/

And yes, donít skip on some counseling. No major financial decisions should be made while grieving, and if you donít have a good support system itís really imperative you can talk to someone.
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