Real Estate Investing Blog

Below is an email I received a couple days ago from one of our subscribers and I wanted to share my response to her and see what your comments were too.

From: Ami Gomez
Sent: Thursday, May 17, 2007 4:20 PM
To: Michelle@InvestorWealth.com
Subject: Case Scenario

Hi Michelle,

First, thank you for the valuable info I’m receiving from you via email. I’m gaining knowledge and wisdom from it being an investor.

I’d like to ask for advice on exit strategy on this scenario:

My Uncle is 70 years old, Retired from Navy and Civil Service
Assets: Home worth $700,000 paid off (Bought at $46,000)
Savings/Checkings/CDs: $40,000
Fixed Annual Income: $40,223

His wife of 49 years wants a divorce, currently in process. Wants to get half share of the community property. So, here’s the debating question: Sell or Hold the fully paid off home?
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That is the question I get asked most, whether folks send me an email or they pick up the phone and call.  And my answer to this question has evolved, with Richard and my investing experience, and with the real estate trends of our times.

As most of you know, hind-sight is 20/20.  And after eight years of real estate investing and four years of working with the best in the business and training numerous real estate investors, I can tell you that ‘your formula for success’ depends on your individual goals and your individual situation.
So, for me to give you, or anyone, a definitive answer – I would really need to spend some time with you individually.  However, there are some basic ideas that every investor should be considering.  So, I’ve decided to do a short series on ‘Where do I begin?’

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