My mom works in an office that deals with taxes. My grandmother is in heaven but her love is in my heart shirt. It is incredibly complicated but wealthy people know how to skirt it because they have lawyers and people who spend their entire lives reading tax code revenue like my mom. Dunno why the smiley face at the end of your comment, rich people avoiding taxes is a pretty sad situation. Maybe try not to sell the flat. Empty it out. Do a small tidy up and rent it maybe? You never know, in future when your kids have grown up, they would appreciate it.
What is heavenly?
and it’s very unlikely you’d go out of your way to buy a flat in NYC otherwise. The rent itself can facilitate a living. It is also a way to secure large sum without having to invest elsewhere, incurring fees, worries, and whatnot. The cash and other bits you have can go towards savings, house, etc etc.. Knowing at the back of your mind you have this awesome property that you can leverage if you need to..Dont just rely on a view of a single financial advisor either.. Happy for you. Make your kids proud..I’d agree with keeping the flat. If you have a good property manager (ask the building concierge or your neighbors for a recommendation) then rental income is the best form of passive income that keeps rolling in month after month. I live in NYC. Keeping an apartment here, when you don’t live here, is really hard. I’d recommend selling it and pocketing the cash or investing it in a home they can rent out closer to home.
My grandmother is in heaven but her love is in my heart shirt, ladies, v-neck t-shirt, tank top, flowy tank.
I own two (inherited) apartments, one in the city I live in, and one in a city on a different continent. I’ve no interest in selling either, it’s almost no work for me with guaranteed income except when between tenants. Damn dude, I need the rich family that leaves me stuff. I’m struggling to find a job that breaks $1,000 a month right now. Steady income that requires no effort is like my dream after having to scrounge money from waiting jobs my whole life. Real estate like this that doesn’t come available very often. A lot of it is passed down. I can only imagine what kind of architecture and original elements are in that apartment that she probably had for decades! This is a great idea. A reliable stream of revenue will never hurt. If it’s your property, you’re going to want to keep an eye on it. I’m currently planning to buy the property after I turn 50, and am looking into renting one of them. Also can’t stress doing a thorough background check of everyone who applied for the flat. And don’t rent to friends or family.
Official My grandmother is in heaven but her love is in my heart sweater, hoodie, and long sleeve
Everyone I’ve spoken to who does this has given me the same advice, My grandmother is in heaven but her love is in my heart shirt. if you’re not big, stay close to home and keep your eyes on it. Aside from the renter issues, you might come across, the closer and more attentive you are, the faster you’ll notice small problems before they become large, expensive problems. Love this idea. Cost of living in NYC is expensive and if you live somewhere where it’s cheaper the passive income from the rent could be a monthly bonus. Of course, do your due diligence and make sure you are aware of all the pros and cons of renting.