Co-owned Real Estate

momofthreeboys
Sat, 16 Feb 2013 10:26:16 +0000

Agree, it’s still an asset regardless of what it takes to convert it to cash. Many people have assets that cannot be easily (if at all) converted to cash quickly. Just find out what it could sell for quickly and use your percentage of ownership. I call realtors each year and ask them “If I had to sell this land in 2 weeks where would I have to price it” and save their responses. I use their responses to value the land. That number should of course be significantly lower than what you price the land if you didn’t care how long it took to sell it.