How best can I replace the rental income I now receive once I sell the property?
March 10th, 2010 | 
Author: I’m аbουt tο sell a rental property οn whісh I collect $1,200 per month (minus upkeep) bесаυѕе I’m moving out οf state. I don’t want tο bυу another rental property bυt hаνе become dependent οn thаt income. I ѕhουld receive $185,000 fοr thе property. Whаt іѕ thе best income producing investment I саn mаkе?
Posted in Rental Properties
You could look into buying someones personally held finance. You can find people that have them by putting an ad in the news paper stating that you buy mortgages.The advantages of doing this instead of getting stocks or bonds is that your restore will be around 12-15 %, and there is no upkeep on the property and no insurance. If the owners default on the payments to you you can foreclose take the property and have a property to sell and reinvest in more paper/mortgages.
I’d check with a financial advisor/planner. Most have the software to tell you what amount of income you can expect from an investment over time and at a conservative interest rate.
If you want to shop on your own before meeting with an advisor, check some investment web-sites. Most have calculators that can give you an thought so you go in with a bit more knowledge as to what you’re thinking of doing.
Excellent Luck!
Considering that you have been paying upkeep and property tax, you force be able to do as well as you have been by simply investing in a stock that pays a excellent dividend. Example would be the 7.5% paid by this company…
http://finance.yahoo.com/q?s=uht