Hello Reddit – looking for some general financial advice…
My mother recently died and I am left with 3 properties, match that with a car payment/student debt I’m looking for the best plan to stay ahead in life.
Info:
30yr old male
60k a year salary (work from home)
Northeast United States
Debts:
Car Payment: $23k (2021 Subaru)
Student Loans: Just finished paying off the $25k private so now I have $40k public left
Currently paying $0 a month on public – not sure what the forgiveness talks will end up in plus all payments are paused until September 30 2021…
Money:
Stock: $1k
401k: $35k
Savings: $7k
Properties:
I moved into my mothers house and pay roughly $1k a month between general bills, mortgage, insurance etc. She did have a 2010 Subaru paid off 90k miles… this MIGHT go to my sister… Problem is my sister (26) does not work, has never worked and does nothing to contribute (good idea to take the older paid off car and sell mine?) I also thought that maybe my sister could take the car and start life…
Property 1: Home I live in. $30k mortgage, worth maybe $80k – needs some work though. I own 1/3 of the house…
Property 2: 4-unit apartment complex that is paid off. Valued at roughly $200k. I own 16% (5 people total with 3 of us getting 50%). This money technically goes to a business account and separate from my personal finances.
Property 3: Single Family home that is currently rented out – unknown mortgage at this time (still going through estate process). I would say roughly $75-$100k worth. I own 1/3 of this house.
I know it’s a lot, I want to talk to a financial advisor honestly. Things especially get tricky since these are divided up and some people are not pulling their fair share. In a perfect world I would love to keep all properties, fix them up, rent them out etc… I’m trying to think of these as a gift that was left to us…
Submitted March 20, 2021 at 07:32PM by straight_rotation https://ift.tt/3s6xM8P
