Should I Use an Inherited House as a Rental?

The Ramsey Show Highlights

Ramsey Network

Self-improvement, Education, Investing, Business

4.6 • 682 Ratings

🗓️ 5 April 2024

⏱️ 10 minutes

🔗️ Recording | iTunes | RSS

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Summary

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Transcript

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0:00.0	brought to you by the every dollar app start budgeting for free today danny is in miami hi dany
0:09.1	welcome to the ramsie show thank you so much for having me very excited well go to talk to you sir
0:15.7	how can we help so uh this is kind of nerve wracking because I'm not really good at talking about, you know,
0:22.6	finances and stuff like that.
0:23.9	But the main point of, uh, the reason for my call is because me and my fiance, who were,
0:29.4	we're getting married in July in Montana, but, uh, she inherited a house from her grandparents
0:34.8	after they passed away.
0:36.3	Mm-hmm.
0:36.8	And where right now it's been a rental property for a couple decades, right, where somebody
0:43.1	in the front of the house is renting and then somebody in the efficiency in the back has
0:47.0	been renting out, right?
0:48.0	It brings in, well, right now we're renovating it, the back end of it, but we know that
0:53.3	once we get it fixed up,
0:55.2	total should bring about maybe $4,000 a month in rental.
1:00.0	Her perspective is that she wants to move in into that house.
1:04.8	The house is paid off.
1:06.7	Where is the house?
1:08.8	It's in Miami and Cole Gables.
1:10.7	Oh, okay. But you're getting married in Montana. That's what and Cole Gables. Oh, okay.
1:11.4	But you're getting married in Montana.
1:12.6	That's what threw me.
1:13.3	Okay.
	...

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