Over the years, your tenants will gladly pay off your rental home for you. When this happens, DON’T sell it. This is your retirement income! This is money that will make it so that you have money to live on when you are living your dream in your off-grid Garden of Eden.
The time invested in your rental is minimal. You have great tax write-offs (consult an honest tax accountant to help you get all of the write-offs you are eligible for).
And so that your heirs will not have to pay huge capital gains and so that the gov’t does NOT take it from your heirs when you have to go into extended care, be sure to put your property into a Trust (not a Will; otherwise, your property will have to go through probate before your heirs will get it). Consult an honest (good luck) attorney to help you with this.
- Moving our 33 Foot Trailer up our Narrow Steep Mountain Road - July 26, 2016
- The Snowmobile Adventure - April 26, 2016
- Homestead Laundry Day – Not According to Plan - October 1, 2015
- My Little Country Store - September 12, 2015
- How To Propagate Willows from Cut Off Branches - August 21, 2014
- Stinging Nettles, Arthritis, and Strawberries - August 14, 2014