[Remembergoldenrule]

[QUOTE=mvbird;2454476]Suppose you are 75 yrs +, kids grown, have owned a patio villa, tenant moved out, and you're thinking of selling it. But what next ?

Before giving it away? Do you have enough funds to pay $10-15k a month for up to ten years if you end up needing asst living, 24/7 home care, or nursing home? Live where you will have most friends your age and stay active! Make sure you have beneficiaries TOD on every single account you own from checking to retirement to investments. If you know where you’re going to be buried, go ahead and pre-pay for funeral. If you have someone you trust, get a joint checking account with them for 10 K or more if you have to have your body shipped to another state for burial so they can pay any bills or expenses after you pass and before the life insurance is paid and accounts are dispersed. Look carefully at your will and make sure the executor does not have to be in the same state you are. Look at probate cost, and pick your final place accordingly. Going through a nightmare right now because Mom inadvertently left off beneficiaries on her CDs. Enjoy the life you have and live every day to the fullest.

[Justputt]

We each have a dirt knap coming soon enough. Enjoy what you have while you can before your health starts to fail. Make sure you have enough money to fund any healthcare needs you could have if things go poorly. Let your kids worry about any money left over.

[CoachKandSportsguy]

My suggestion is to pass on the proceeds to your beneficiaries now, so that they can use the money, instead of them waiting for your estate distribution. But only if you don't need the money and if you have living beneficiaries.

Otherwise, I would invest into high quality dividend stocks and live off of that . . a mixture of different industry ETFS, or even better, muni bonds which are tax free. . . much more liquid and much easier to manage in your estate

[Whatnext]

Sell, and go live you bucket list.

[rsmurano]

No matter what your age, you always want to invest to make money. IMO, I would get into some good index funds, not bonds, that are not risky, low expense costs, good dividends, and increase in value, over 20% growth. I have a couple dozen that perform like this so they are out there.
You will never make money in cds, or annuities.

[Professor]

Originally Posted by mvbird

Suppose you are 75 yrs +, kids grown, have owned a patio villa, tenant moved out, and you're thinking of selling it. But what next ? and where ? Put proceeds in the bank ? Look in North Carolina ? Roll it over.. 1031 ...into another rental home? A different 55+ community like Margaritaville or James Plantation? Donation to MSPCA? Simplify life and put it in an S&P index fund ? Always enjoy the intelligent comments of the forum.

I would buy a 911 Porsche...and that is exactly what I did

[Ginnyshe]

Originally Posted by mvbird

Suppose you are 75 yrs +, kids grown, have owned a patio villa, tenant moved out, and you're thinking of selling it. But what next ? and where ? Put proceeds in the bank ? Look in North Carolina ? Roll it over.. 1031 ...into another rental home? A different 55+ community like Margaritaville or James Plantation? Donation to MSPCA? Simplify life and put it in an S&P index fund ? Always enjoy the intelligent comments of the forum.

I agree it might be better to find another renter or roll it over. Any depreciation you claimed will be taxable at 25% even if you sell at a loss.

[Ginnyshe]

Originally Posted by jparsoneau@aol.com

Well, I’m only 63. And my long-term tenant has moved out of my villa and I currently have it up for sale.
Two bedroom located on the Water if anybody is interested
And I’m selling it cheaper than I bought it for so I don’t have to worry about taxes and nor am I reinvesting

You will could still owe taxes if you claimed depreciation on the rental.

[Ruger2506]

Originally Posted by Cliff Fr

Has ducks unlimited actually bought property and protected it? If so where?

Absolutely. Here is one news article.

Ducks Unlimited Builds On History Of Success To Launch $3 Billion Campaign

[Joe C.]

Sell it. Take the proceeds and take an around the world cruise or take several smaller cruises spread out among the different seasons.

[manaboutown]

Life is not a bowl full of cherries for all multifamily (apartment) REITS. This one has been around a very long time but needs to sell its underperforming properties and close shop. The incompetents who took over its management several years ago went in for ESG and DEI. It had previously performed well since 1960 as WRIT. Top DC'-'area landlord changes name to Elme Communities '-' WTOP News

Yes, I own a few shares, thankfully very few. Elme Communities takes steps to liquidate

[Rainger99]

Originally Posted by mvbird

Always enjoy the intelligent comments of the forum.

So you only enjoy a small portion of them?

[thevillages2013]

Originally Posted by mvbird

Suppose you are 75 yrs +, kids grown, have owned a patio villa, tenant moved out, and you're thinking of selling it. But what next ? and where ? Put proceeds in the bank ? Look in North Carolina ? Roll it over.. 1031 ...into another rental home? A different 55+ community like Margaritaville or James Plantation? Donation to MSPCA? Simplify life and put it in an S&P index fund ? Always enjoy the intelligent comments of the forum.

Really, Martha’s Vineyard? Worried about what to do with a patio villa? I’m calling BS on this one. Just saying

[Aces4]

Originally Posted by rsmurano

No matter what your age, you always want to invest to make money. IMO, I would get into some good index funds, not bonds, that are not risky, low expense costs, good dividends, and increase in value, over 20% growth. I have a couple dozen that perform like this so they are out there.
You will never make money in cds, or annuities.

I totally disagree, there comes a point when you become more interested in your family, friends, personal pleasure choices than investing for another nickel. Take the money and run, have lots of fun and share the happiness. Unless you're dead broke and need the nickels to feed yourself, you can have a nice end of life plan.

[RoseyRed]

Originally Posted by jimhoward

The real estate market is soft right now. It might not be all that easy to sell. If you can easily find another long term tenant, using whatever means you used to get the current one, then I would consider doing that.

If you decide to sell instead fine, it is certainly less headache than having a tenant. I would not then turn around and buy another rental property. You would suffer transaction costs and be no better off. I definitely would not buy a remotely located rental property. Then you are into an expensive management company and you will make no money.

In terms of what to do with the proceeds, I am not sure anyone can advise you intelligently without out knowing your financial situation and the asset classes of the rest of your portfolio.

Lets say for the purposes of discussion that the PV is owned free-and-clear and worth $300K. And lets neglect taxes for a moment. How much of your total investment portfolio does that represent? 1%, 10% 50% ?. If its 1%, then do whatever you feel like.....have fun If its 10% then look for an overall balance between real estate, stocks bonds etc. You do an asset allocation. If its 50%, then you put it in money markets and draw a few percent per year to help with living expenses.

very good point and consideration!