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Ask Dave

Sell Or Keep The Property

Dave thinks Rob should sell their rental property immediately so that he can pay off his debts and then invest the rest.

QUESTION: Rob inherited a piece of property in 1997 they are using as rental property now.  He is thinking about selling the rental property – worth about $210,000 – and become completely debt free.  Should he sell it?

ANSWER:
I’d sell the rental property in a heartbeat.  Then take all the payments that you don’t have anymore, invest them in good growth stock mutual funds, and you’ll have more money at the end of the day.