How to use your home to financially assist you and your family through your Golden Years



With your home or investment property you have 3 options to get income:


1)    Sell it               2) Rent it              3) Borrow from it



With each option, there are some things to consider and professionals to talk to:



1)    Sell it


·        Preparing to sell – Professional Full-Time Realtor


·        Downsizing, cleaning and de-cluttering


·        Tax consequences 1) Personal residence or 2) Investment property –Accountant or CPA


·        If only one living spouse – was an appraisal done at the time of deathof spouse?


·        If home is in a trust – Estate Planning Attorney


·        Do a CPR – divide the land and sell part of it.


·        Do a 1031 Exchange: ie: 1) vacant land – buy a condo or home, rent it out and get cash flow, 2) apartment building – do a CPR and sell units individually or give units to heirs, 3) single family home – sell and buy smaller condos



2)    Rent it out


·        Property manager or manage it yourself?


·        Is your home large enough to create a separate living area which will allow you to stay in the home and rent out a part of the home?


·        If it’s your own home: Preparing to move out of it to rent. De-clutter and any repairs.




3)    Borrow from it


·        Reverse mortgage


·        Refinance




If you have any questions or other concerns and would like to discuss this further, please call me at 808-228-4916.

And if you are tired of being a landlord, I invite you to a free seminar. More information here.
I would be more than happy to get together with you.

745 Fort Street Mall • Suite 608
Honolulu, HI 96813