Sean Pyles

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We're back and answering your money questions to help you make smarter financial decisions.

This episode's question comes from Becca who emailed us their question.

Hi, Sean and Elizabeth.

My boyfriend and I are selling our condo in California to move to Texas.

I think I prefer to rent when we move to Texas.

And my boyfriend and I have been discussing what to do with the net proceeds from selling our California home.

He likes the idea of buying land in Utah.

I love the mountains and building a mountain chalet that we can visit throughout the year and have as an investment property when we are not using it Airbnb style.

He is excited about the idea of designing and constructing, but I have hesitations about the cost to build, as well as the complications of managing the property from several states away.

The alternative we are evaluating is simply to invest the proceeds from our California home sale.

Our question for you is, would you consider having real estate and a short-term rental a strong diversification of my portfolio, or is it more of a risk?

Thank you, Becca.

Hey, Lisa, good to talk with you again.

I want to start by talking about how much cash Becca and their boyfriend might net from selling their condo.

And the truth is that we just don't know what those numbers are because we don't know how much they bought their condo for that.

We don't know how much they might sell their condo for.