>parents mortgage a $300k house in NYC for 15 years >finally

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noko
2016-09-09 15:07:54 Post No. 1492765
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noko 2016-09-09 15:07:54 Post No. 1492765 [Report]

>parents mortgage a $300k house in NYC for 15 years
>finally paid off loan a few weeks ago
>the house is now estimated at 1.2 mill
>parents barely speak English so they want me to take care of everything

What would be the best course of action here?
Should I sell the house and buy another one in Staten Island? Houses there are going for 600-700k and its way bigger than the one we own now.
Or should we continue renting out this house?since the value has been going up every year

Anonymous 2016-09-09 15:22:43 Post No.1492798
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Anonymous 2016-09-09 15:22:43 Post No.1492798 [Report]

>>1492765
Once a house is payed off....you shouldnt care what it is worth.

Do you love where you live? Then stay.

Do you want to move out? Then sell.

You might want to keep it and pass it on to future generations.....shit is only going up especially in jew york.

Anonymous 2016-09-09 15:33:46 Post No.1492823
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Anonymous 2016-09-09 15:33:46 Post No.1492823 [Report]

What you should do is really dependant on what you want at this point. Grow the net worth? Be secure? Get some passive income?

What's the objective?

Anonymous 2016-09-09 15:40:10 Post No.1492835
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Anonymous 2016-09-09 15:40:10 Post No.1492835 [Report]

Take out a $3 million fire insurance policy. Also take out a $10 million life insurance policy on yourself and mill yourself by burning down the house.

Anonymous 2016-09-09 19:24:34 Post No.1493323
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Anonymous 2016-09-09 19:24:34 Post No.1493323 [Report]

>>1492765
What the fuck? I'm from great kills LMAO.

Don't listen to that shitty article. Staten Island is fucking TERRIBLE. Lived here my entire life.

Anonymous 2016-09-09 19:26:54 Post No.1493326
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Anonymous 2016-09-09 19:26:54 Post No.1493326 [Report]

>>1492765
I mean im a poor white trash faggot, so honestly not ALL of Staten Island is terrible. If you can afford to live in Todt Hill you might enjoy it, but as always, there are really shitty parts of town. Also, the heroine epidemic here is crazy. If I were you I'd move up north or somewhere where you can buy a shitload of property for super cheap, then build your dream home.

Anonymous 2016-09-09 19:27:06 Post No.1493327
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Anonymous 2016-09-09 19:27:06 Post No.1493327 [Report]

>>1492798
>Once a house is payed off....you shouldnt care what it is worth.

What the fuck?

Anonymous 2016-09-09 19:27:55 Post No.1493330
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Anonymous 2016-09-09 19:27:55 Post No.1493330 [Report]

>>1493326
>heroine

i deserve to be poor

Anonymous 2016-09-09 20:13:02 Post No.1493443
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Anonymous 2016-09-09 20:13:02 Post No.1493443 [Report]

>>1492765
Sell that mutherfucker anon

SELL SELL SELL.

get 2 houses at 600k.

Live in one.

Rent the other.

Profit!

Anonymous 2016-09-10 02:18:13 Post No.1494041
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Anonymous 2016-09-10 02:18:13 Post No.1494041 [Report]

>>1492765
Cash out mortgage, buy a retirement home with cashout in cash and rent NYC home to idiots for 3500 a month.

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I'm aware that Imgur.com will stop allowing adult images since 15th of May. I'm taking actions to backup as much data as possible.
Read more on this topic here - https://archived.moe/talk/thread/1694/