Reply to Helping my hopeless parents plan for retirement

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]It’s odd to me that this “rental property” can’t seem to support its own Maintainance and taxes...an investment property owned (even if it has some debt in it) should cash flow unless poorly managed or in a very low cap rate area.

I have no other comment on the cluster of a situation.[/quote]

It sounds as though they need the rental income to afford their current home but the rental income doesn't cover all of their expenses so they really have to scramble to come up with property tax payments, maintenance, etc on both properties.

They need to sell and simplify this picture.  The investment property might be a great money making opportunity for a savvy real estate investor but Op's parents are not savvy real estate investors.[/quote]

OP here. This is right. I think they count on the rental income to pay for everything, including the place where they live, and they never figure in expenses, taxes, etc. And property taxes are very high and they don't understand the concept of escrow [/quote]

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