My father passed away last year and just found out he left me land be bought in the 1980's in L.A coastal area. This was a shock as I didn't expect anything from him as he had no will and decided to let my mom decide. He bought it for about 18k that time. Don't know exactly where it is as that time when bought the address was just numbers. I live in the UK now married and don't plan on moving back to California. My mother will sign the deeds soon passing it over to me and does know how much it's worth now.
I'm not knowledgeable about land value but I've read on a couple of sites that land value in California especially the coastal over time had more than tripled in value. As a Market website quoted - in California if bought around 15k in 1975 it's worth over 350k now.
Should I sell it? Or keep it? If I keep it would have to pay tax on it. But it would be worth even more in a coupled years time. Husband and I are currently renting in the UK so we can use the money to buy a house or put a down payment. We on my owe 1k in credit debt. We both work and make the combined income about 50k. I would like to start Investing but not too knowledgeable about that subject. We never had this much in our life so this is new to us. What would be the best thing to do? Thanking you in advance
Submitted March 12, 2017 at 09:06AM by noCake4u http://ift.tt/2mfb9fw
