Should you sell your investment property?
The pandemic, the economic crisis and the record low mortgage rates have all led to an increasingly aggressive seller’s market.
There are bidding wars and expedited purchasing while prices start to slowly creep up.
What does this mean for a real estate investor? Do you have an investment property? Has the value appreciated? Are you not sure if you should be doing something?
Whether you take action right now or not all depends on what you want to do and what you need to do. If you need the money because the pandemic has affected you and your family, then selling may be an option for you. It’s not a terrible option, right now, since you will most likely walk away with a considerable profit. You can have the property appraised and have a real estate agent put out some feelers to give you a more concrete idea of how much the property could go for (www.aminvali.com).
If you need the money for a different investment or venture, you will need to sit down, do some calculations, talk to a professional, for example someone in Amin Vali Investing, and see if it’s worth it.
Depending on the loan you have, you may even consider refinancing your property to save on interest and consequently increase your profit and equity.
If you do decide to sell you will need to set a price threshold that is your absolute minimum and since, right now, demand is higher than supply, your initial asking price can be a little high. A good realtor will be able to help you find the right balance between too high to sell and higher than asking price (www.aminvali.com).
Be sure to listen to the guidance and advice of your agent since they are just as motivated as you to sell with a high price. You may need to make some cosmetic changes or fix some things at an up-front cost that will lead to a bigger profit down the line, and your agent will know exactly what those changes and fixes are.
Work together with the agent to properly stage the property, to market to a wide audience, and negotiate with and entice the right buyers.
Selling a property with a truly good real estate agent is a beautiful dance since the motivation and the goals are so perfectly aligned. If you plan to stay in the real estate investing game, establishing that relationship is even more important.
Civil Engineer, MBA, Real Estate Agent
Cell phone: +1 (949)220-1000
Phone : +1(310)925-3878
Web : www.aminvali.com
E-mail : firstname.lastname@example.org
Realtor in Zutila Inc.