Rethinking Your Current Properties

I always encourage my clients to “never be sellers” but there are times when a property needs to be eliminated from a portfolio.

I recommend doing an annual assessment of the property, examining how it is performing, and deciding whether changes need to be made.

Some reasons for selling because of the PROPERTY

Area becoming less desirable.
higher crime rate
pending development that will lessen your value.
quality property management not available
location is to far away for regular inspections.
too many vacancies in the area.

Some reasons for selling because of the OWNER

reducing number of properties into larger properties.
need to utilize profits for living expenses/travel.
tired of hassles…maybe a bad experience with a property?
financial position has changed:
- if positive…you can afford more risk. E.g., commercial property?
  - if negative…you need to lessen exposure. E.g., single family home 1 year old.
change in tax law that effects your holdings.

The above are just examples – discuss with a professional your ideas as well as obtain suggestions. Your real estate should be providing all the benefits available to you.