Quote:
Originally Posted by fintstone
Personally, I am at the point where I might try to simplify a bit myself (old and near retirement)...but it is a challenge because I have tenants in my rentals and there will be a huge tax bill to pay. Then, I would have to figure out where to put the money to fund my retirement that will pay me each month and keep up with inflation. It seems that in retirement, one should have more time to chase that dog...after giving up the 65 hr a week at the desk (plus commute). It may be easier to just continue as I am and defer gains (and continue to get income).
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I have a friend in Salem Oregon with exactly that problem. 32 paid for rental units, houses and multi units both, he manages all. 78 years old, doesn't want to sell because of capital gains. Our legislature just hit him with rent control laws.
Well, his choice...but I feel sorry for the guy. He doesn't have much time left, and all he does is manage those units. No wife, no kids...the rentals are his life, I guess.