When is the Right Time to Sell Your Dallas Investment Property?
We all get into real estate for different reasons — some want to be investors, some just do not want to be investors and maybe could not sell your home. There is really no right or wrong reason. At the end of the day, you just have to make a business decision as to whether or not real estate is right for you.
Go by numbers not emotion
If you’re thinking of selling, make sure you do that as a mathematical decision and not based on emotions. A lot of people make decisions based on emotions and I’m not sure if that’s the right way to handle things. Even if you had a bad experience with a tenant or a property management company, you should not get rid of the whole asset. Instead, you may want to be more careful on who you do business with.
In real estate, you have to be on the right mindset.
If you have a personal emergency that’s causing you to free up an equity, that may be a logical reason to sell that asset. If, for some reason, you don’t want to deal with tenants, then you may want to hire property management companies. What’s important is you make decisions based on numbers and logic, not on emotions. A lot of people base decisions on emotions and they end up regretting that.
Finally, one reason you may want to sell your property is because you’re looking to move on to bigger and better things such as bigger assets.
Owning real estate is like a war of attrition. The longer you can last, the wealthier you will likely be. Some of you will get lucky with amazing tenants that stay for 10+ years. Others will experience situations that will test your faith in humanity.
At the end of the day, your investment property’s main purpose is to generate cash flow in as painless a fashion as possible. Once the pain of owning becomes greater than the joy of earning, it’s time to sell. Continuously work towards that income stream that provides the highest return with the least amount of work.” – Financial Damurai
If you like to talk us about some strategy sessions, we’d be happy to sit down and talk with you. We can help you sell a property, buy a property, or just have a conversation. Do not hesitate to give us a call at 214-499-9813.