I Own a Great Rental Property, Should I Sell It? - Episode 529
Investing in Real Estate with Clayton Morris | Investing for Beginners
Clayton Morris
4.1 • 1.1K Ratings
🗓️ 2 October 2019
⏱️ 10 minutes
🧾️ Download transcript
Summary
From time to time, you might find yourself considering the option of selling one of your rental properties. Whether it’s due to market shifts, or personal financial situations, if you find yourself tempted to sell your rental property, there are a few things to consider.
On this episode of Investing in Real Estate, Natali and I are talking about long-term buy and hold strategies, addressing underlying fears, and what to do if you feel like you need to sell a rental property. Please join us for episode 529!
Book a call with our team: https://goo.gl/qr6iat Show notes: http://morrisinvest.com/episode529
Transcript
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| 0:00.0 | Hey, I've got this really great rental property. Should I sell the darn thing? |
| 0:09.0 | Mmm, let's discuss this one, Clayton, on today's episode. |
| 0:13.0 | All right, let's dive into it. |
| 0:14.0 | Hey everyone, welcome into the Investing in Real Estate Show. |
| 0:17.0 | I'm Clayton Morris. |
| 0:18.0 | I'm Natalie Morris. This is the show where we help you build financial intelligence |
| 0:21.0 | so you can build financial freedom. |
| 0:23.8 | Now we recently had an email from somebody who was a fairly new real estate investor |
| 0:29.6 | and I think they bought a property maybe about a year or two ago. |
| 0:34.1 | And they sent the email and how did they write the email? |
| 0:38.0 | It was about owning a property. |
| 0:39.7 | It was a fantastic deal. |
| 0:41.4 | Yes, renovation was complete. We really like it. It's cash flowing nicely, but I want to sell it. |
| 0:48.0 | Right. The returns are great on this property. It's in an area. Like it was all of these great points right it was like the job |
| 0:55.0 | market is growing in this area the it's appreciating it's already worth more than it was |
| 1:00.0 | I want to sell it I think I should sell it should to sell it. I think I should sell it. Should I sell it? |
| 1:04.0 | Uh, no. So we wanted to break this down a little bit today and I wanted to kind of go high level with you, |
| 1:11.0 | 30,000 foot level because I'm always reminded of something that I learned |
| 1:14.8 | at a real estate meetup group many, many years ago. And I've heard this as a cautionary tale from other people. |
| 1:21.4 | And if you go around the room and ask any of the old-time real estate |
| 1:25.6 | investors in the room what is their biggest regret in real estate investing, |
| 1:30.3 | they will say universally, oh I wish I wouldn't have sold that property. |
... |
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