- Jul 26, 2018
It sometimes makes sense. If you are retired and very low income need the income to live and don’t want to leave your home. If you are not attached to staying it generally makes more sense to sell and use the money to create an income stream with a mix of closed end funds like nuveen.
Have you seen the cost to rent these days? Two bedroom apartments here are $1,600 plus a month. Houses even more. Just sold a duplex in what used to be a great area. Bought it 30 years ago. Now not so much. I wouldn't walk the street at night unarmed. 2/1, 750 sq ft, carport. No upgrades. New owner raised the rent to $1,150/month.
With a reverse all you pay is taxes and insurance and the property creates an income with zero risk.