Should I Sell My Investment Property?

Ramsey Everyday Millionaires

Ramsey Network

Investing, Careers, Business

4.6 • 3.6K Ratings

🗓️ 25 October 2023

⏱️ 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, Rachel Cruze, John Delony, George Kamel & Jade Warshaw. Helpful Resources: Need Help with your investments? Click here to connect with a SmartVestor Pro. To learn more about how to plan for Retirement click here To learn more about Investing click here Create a college savings plan for your child’s future. Click here to connect with a SmartVestor Pro. Learn more about your ad choices. https://www.megaphone.fm/adchoices Ramsey Solutions Privacy Policy

Transcript

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0:00.0	This episode is sponsored by Smart Vestor.
0:07.2	Connect with an investing pro for free at RamseySolutions.com slash invest.
0:15.2	You're listening to Ramsey Everyday Millionaires, where we talk investing, retirement, building
0:19.7	wealth, and outrageous generosity.
0:22.0	I am sitting in Los Angeles, hey Pam, welcome to the Ramsey show.
0:26.2	Thank you for taking my call.
0:27.8	Sure.
0:28.8	I have a 66 year old widow in good health.
0:32.8	The only retirement I have is property, a home and a prop and land that I own in no
0:37.7	rental Tennessee.
0:39.5	It's fully paid for.
0:42.1	I generate about $19,000 a year rental income.
0:49.7	There's about $2,000 in property taxes every year.
0:54.4	I've got people, my other income is my social security, which is 1,800, and then I run
1:01.8	out two rooms in the house where I'm in in California for $1,100 a month.
1:09.7	That together brings my income to about 54,000.
1:12.2	If I sell the property, I'll at least at 20,000.
1:17.0	I've got people telling me to sell and invest, sell and put it in CD, don't sell.
1:23.0	I don't know what that's going to do with it.
1:25.3	What's it worth?
1:26.3	Probably six.
1:27.3	It was worth more before the law has changed, but it's worth, say, $6,700,000.
	...

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