Things to consider if you’re thinking about selling an investment property.
I’ve had many investor clients and friends reach out to me and ask if now is the time to sell their investment properties. Are you considering selling your investment property in this hot real estate market? Is now the time to maximize your gain or hold onto it? Plenty of investors are currently asking themselves these questions, but there are a few things to think about before making a decision:
1. Weigh today’s market value versus the rental income you’re receiving. You need to consider the stress of being a landlord compared to cashing out and avoiding stress, especially if you’re a long-distance landlord.
2. Has the depreciation tax benefit run out on this property? Has the fact that it’s run out impacted the quality of the investment?
3. Is the property located in an up-and-coming area? Or is it in an area that’s already reached that point?
Think about these three points, and you’ll know whether it’s time to sell your investment property. I’d love to sit down and help you find the right answers so that you can make the best decision about whether to sell your investment. Call or visit my website if you want to discuss this or have any questions. I would love to be your real estate resource.