land - Posted by dave

import · January 18, 2002, 7:52pm

Posted by Ronald * Starr(in No CA) on January 18, 2002 at 21:33:46:

Dave---------

I would recommend not getting involved with “put a house” on a property. This means, doesn’t it, build a house on the property? That is a whole lot of work. Unless you have built houses before, I suggest do not do it.

$700 a month rent on a property worth $150K? That is a terrible rental amount. It obviously does not make sense to rent out houses in your area that are that expense.

Start cutting down on your consumer spending. Stop using those credit cards entirely. Pay them down as rapidly as possible.

Selling an unneeded vacant parcel of land makes sense. You might consider selling that lot for cash, using an IRS section 1031 tax-deferred exchange to buy some rental income properties that make sense.

But don’t start making moves until you have spent a few months studying up on real estate investing and studying the real estate market where you live.

You are not ready to buy anything, in my opinion.

Good InvsetingRon Starr*****

import · January 18, 2002, 7:52pm

land - Posted by dave

Posted by dave on January 18, 2002 at 20:52:11:

Just get done reading the cashflow quadrant.would it be better to sell my land to reduce my liabilities or would it be better to put a house on the 5 acre’s to rent or to sell.
Have about 30,000 on c.c.,180,000on house,car,some more.Land might sell for 45,000$.With a house it would go for 150,000$.Rent is around 700$ for a three bedroom.