My uncle and uncle never ended up having kids! They amassed a ton of wealth and a bunch of properties in their lifetime… When they passed, all of those assets went to odd members of the family… I received a bunch of properties in their hometown of Jax, FL.
I don’t live in Jacksonville. I don’t even live in Florida… So while having a bunch of assets in my portfolio was nice, I wasn’t keen on how far away they were. I tried renting out odd homes to make some money. The distance was typically a problem. There were repairs, upkeep, and general questions that came up. I thought about hiring a household manager but they take so much money and it wasn’t worth the cost. I ended up selling all of the Florida properties for money. I tried listing them on the market but it was taking months to close, however nobody was serious about buying. I was supposed to do a whole bunch of repairs and staging. The real estate agent was going to take a fee for the sale, but looking for a Jax, FL rental household client was a smart move. They did all the homes for money which was great… A money offer is ideal for someone that is looking for quick and self-explanatory, but maybe if I invested a bit of money and time I would have made more. I truthfully didn’t want to do that. With such a big portfolio too, I would have been at it for years. This was a much smarter decision on my part.