After reading the books Rich Dad, Poor Dad and Millionaire Next Door, I was convinced that I needed to own rental properties in order to be rich. It was a smart investment move. For the most part, I agree with rentals and diversifying your wealth. However, being a landlord isn’t meant for most people. When you only have a few rentals in your portfolio, hiring a household manager isn’t the financially smart decision. So then you are just sort of stuck getting more rentals, hoping it affords a manager, and then sinking more and more money into it. I realized suddenly that I would either need to spend a lot to acquire a portfolio or just tap early. I decided that I was already sick of being a landlord and it had only been a few years of it. I decided to offload my entire rental household portfolio. I could have listed the properties online. I didn’t want to go one by one with them though. I also wanted to get cash to invest in stocks and bonds. I wanted to absolutely diversify my wealth but not do a whole lot. So I looked at FL customers that do cash offers for rental properties. The FL real estate agent contractor that I worked with was great. They offered me a cash deal for my entire portfolio. I didn’t need to kick tenants out, make repairs, or even phase the places. I just had to sign. That was a relief. Having cash in hand to immediately buy stocks was a bonus too.
