LOOKING TO SELL YOUR
As a real estate investor, you probably already know a thing or two about your appetite for risks and how to manage them.
But while real estate has been a consistently resilient industry in the past, the pandemic has done a lot to contribute to its current state of volatility.
That said, here’s one question that you might find yourself asking these days, “Should I hold or just sell my current rental property?”
Admittedly, there is no straight-cut answer to this. However, there are some questions that might help you come to a conclusion about whether to buy or sell.
Are you in urgent need of cash?
Is there a medical emergency, or have you fallen behind on bill payments? Obviously, either of these scenarios will require you to put out a certain amount of cash. And if that’s not readily available to you, then you might want to seriously consider liquidating your assets by selling your rental property. If you ask us, this makes more financial sense rather than taking on more debt by applying for a loan.
Do you have better investment opportunities elsewhere?
It happens: maybe when you bought your property, the current location was at the height of an economic boom. But now, gentrification may have moved elsewhere and you’re stuck with a property that is quickly diminishing in value. If this is the case, then selling your house and reinvesting your money elsewhere might be a smart move to make.
Our final thoughts —
As a real estate investor, you should always be in the habit of assessing whether you need to hold or sell your property. Keep alert of market trends and regularly ask yourself important questions (such as the ones we’ve mentioned above) to make informed and smart decisions regarding your financial well-being.
That being said, we at Barchett Investments is ready to purchase your home or condo for cash as is in as little as seven days. Feel free to call us or fill out the form below.
Matthew Barchett 409-554-3767
Leyla Barchett 409-554-2150