So I plan to pay off my mortgage within the next 2 years. My wife wants to sell and move-I want to retain the property (we have a LOT of upgrades on it now) and put everything we own (and my online retail business) in a trust and create passive income from the rental as long as we can. Pros/cons? I feel long term its better to keep the property and I can perform nearly everything contractor wise-then the plan is to expand to more home rentals once we create a real eatate portfolio.
We covered this on today’s Open Forum Show on our sister podcast “The Directed IRA Podcast”, Episode 76. Check it out here: https://directedira.com/podcast/. The show will be released/uploaded to iTunes on November 14th. Thanks so much for listening and participating!! Mark and Mat