Should I Keep My Rental or Sell It Since the Market Is Hot?

Ramsey Everyday Millionaires

Ramsey Network

Careers, Investing, Business

4.6 • 3.6K Ratings

🗓️ 13 December 2021

⏱️ 6 minutes

🔗️ Recording | iTunes | RSS

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Summary

Listen to how ordinary people built extraordinary wealth - and how you can too. You’ll learn how millionaires live on less than they make, avoid debt, invest, are disciplined and responsible! Featuring hosts from the Ramsey Network: Dave Ramsey, Ken Coleman, Christy Wright, Rachel Cruze, John Delony, and George Kamel.

Transcript

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0:00.0	You're listening to Ramsey everyday millionaires, where we talk retirement, building wealth,
0:10.5	and outrageous generosity.
0:14.8	Frankie's with us in Phoenix, Arizona, starting off this hour.
0:18.2	Hi, Frankie, welcome to the Ramsey show.
0:20.2	Hi Dave and Ken.
0:23.0	Thanks for taking my call.
0:25.4	Sure.
0:26.4	I'm in a quandary.
0:29.2	I am 75 years old.
0:31.0	I have no children.
0:32.9	I have a house that I live in, and I have two rental properties.
0:36.7	One is completely paid off, and the other I owe 6,000 on.
0:42.8	So I am able to supplement my social security.
0:46.6	And between the two houses, if I have it at market rent, which one is at market rent now,
0:53.0	the other one is not yet because I'm in the process of rehabbing it while my tenant
0:59.1	is still in there.
1:00.1	So that's been a long process.
1:02.4	He wants to buy it, and that's why he wanted to stay in it.
1:06.2	So when that other house is up to, when it's completed, the renovations completed, I
1:13.7	will have about 30,000 in it because the house is built in 1955.
1:18.9	So it needed a whole lot of updates and renovation.
1:22.4	And while I'll be netting a total of a little over 20,000 a year from the two rentals that
	...

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