Timing Your Property Sale in Maryland | 7min snip from BiggerPockets Money Podcast

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Finance Friday: Chasing FIRE by 35 WHILE Supporting Extra Family Members

BiggerPockets Money Podcast

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CHAPTER

Timing Your Property Sale in Maryland

This chapter explores the best timing for selling a property in Maryland by analyzing market conditions, seasonal trends, and local tax implications. It also addresses the challenges of managing rental properties while discussing strategies for maintaining rental income during the sale process.

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Is something stopping your FIRE? Today’s guest wants to retire early at 35, but with a shaky budget, extra expenses, and a problematic rental property, her path to early retirement isn’t clear. In today’s episode, we’ll break down her finances and help her get back on track!

Welcome back to the BiggerPockets Money podcast! Sarah earns a great salary and diligently saves for retirement each month. You’d think she’s on pace to leave her W2 job in a few years, but there’s one problem—she has more expenses than the average person. Financially responsible for two extra family members, Sarah pays for their mortgage, food, and lifestyle, all while covering her own expenses!

Does Sarah’s financial situation need a major shake-up? Tune in as Scott and Mindy debate whether it’s time for Sarah to part with a property that’s bleeding money, strategize about when to put it on the market, and discuss what to do with the money from the sale. We’ll also touch on the tough conversations Sarah needs to have with family members if she wants to achieve her retirement goal!

In This Episode We Cover

The three things Sarah must do to achieve her goal of FIRE by 35

How to reach your financial goals despite extra expenses

What to do with a rental property that has negative cash flow

The BEST time to put an investment property on the market

How to budget for future children (family planning 101!)

And So Much More!

Links from the Show

Mindy on BiggerPockets

Scott on BiggerPockets

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