The Real Estate Investing Authority®

The Best Time To Sell Your Property.

SHOULD YOU SELL YOUR RENTAL PROPERTY?

SOMETIMES YOU HAVE TO CUT THE CORD…BUT WHEN

Real Estate Investment is one of, if not “the”, best way to invest your money.  Our team at Nexus Property Management® stands behind that claim and it has driven our mission for over a decade.  We pride ourselves on helping investors better see and understand the opportunities that exist in their local (and not so local --see Nexus’ Nvest® program) real estate markets and our confidence in our services all stems from that original belief that this is a hugely untapped path of potential…But, sometimes it just might not work out for someone.  In a world of success-based optimism, let’s be sure to address that things can’t go well for everyone, all the time.

 

 

THE REALITIES OF LIFE APPLY TO PROPERTY MANAGEMENT TOO

Sometimes life is overwhelming.  Sometimes things don’t go the way we want and they can pile up. You might be stressed out and losing sleep and it might stem from owning rental property: being upset with your tenants, disappointed with your property manager, or angry with a maintenance vendor. These things can happen and sometimes they can happen all at once. If life is stacking up and feeling like a game of Tetris, considering lightening the demands in your life is a good play. Maybe, you should consider selling your rental property.

 

It just doesn’t make sense to do something if it isn’t bringing you comfort and not providing you value. As a smart investor, your financial bottom line is your focus and stressors that directly impact your profits or indirectly make it more difficult for you to execute what you need do, can’t be ignored.

 

[ LEARN MORE: 4 WAYS TO DECREASE STRESS FROM PROPERTY MANAGEMENT ]

 

Nvest

THE REALITIES OF INVESTMENT

It’s important to realize that the front end years as an investor are always the most difficult and least financially rewarding. In a basic financial marketing example, compound interest isn’t doing much for you in those early years and you’re having to navigate on lesser funds as you funnel more and more money toward your investments. In real estate investment, you typically move a large amount of capital upfront to purchase a property and often you won’t have a lot of financial flexibility for a number of years. Dealing with maintenance issues or evictions can add great stress when you haven’t been able to solidify a comfortable grounding. There are natural learning curves, costs, and bumps in the road where everyone is pulling at your money. Meanwhile, you’re doing all you can to create value for your tenants and create the best living situation for them that you can afford, when more and more in general is feeling unaffordable.  The reality is that there is potential for substantial stress in the system, and it might be more than your particular situation, and comfort level, can handle.

 

[ LEARN MORE: 10 PROS AND CONS OF INVESTING IN REAL ESTATE ]

 

WHEN TO CALL IT QUITS

If you’re leaning toward selling your property, never make a decision of that magnitude lightly. Some might advise that you think on it for a week, or maybe a month. Nexus VP of Franchise Sales, Greg Rice, strongly recommends that you give yourself a full year.

 

“A full year is going to teach you more than it hurts you”. In that yearlong stress test, you’ll be focused on what is working and what is not. You’ll better understand your priorities and major weaknesses or shortcomings. Ultimately, you’re doing all you can to see if this method of investment is sustainable for you

 

At the end of year, if you decide you’re going to keep it, you’ll be much more confident in reaching that decision and in your potential moving forward. You’ll be sticking to a long term vision you had with a strong potential of reward and comfort down the road. Ultimately, you’d be saying to yourself, “I’m not enjoying this right now but it’s worth the sacrifice”. You can’t get to that point (with confidence and legitimacy) unless you put in the time--hence, the recommended 12 months.

 

If after a year you’ve decided you do want out, you now have a clearer idea of why and where the greatest issues were. You should absolutely sell, especially if the market is still highly favorable to sellers, but even if it’s not. Instead of reaping the sizable benefits of real estate investment down the road, you’ll take your profits now, shed the stress, and KNOW what you’d do differently next time…when you’re in a more comfortable position.

 

[LEARN MORE: THE MATH AND PROFITS BEHIND A TYPICAL NEXUS CLIENT EXPERIENCE ]

 

https://www.nexuspropertymanagement.com/

 

LEARNING FROM OTHERS

Look no further than East Providence’s Manny Aniceto to see a perfect example of what we’ve discussed above. Manny saw the potential in real estate as a younger man but had a difficult time doing it well while maintaining a demanding full time job in sales.  He cashed out of real estate early and after a successful professional career, he retired and took what he learned the first time around to become Nexus’ second largest client.

 

[LEARN MORE: THE NEX-CESS STORY OF MANNY ANICETO ]

 

IN SUMMARY:

No investment is a good one if it’s not sustainable. Real estate is a reliable and profitable investment in most cases, especially with a professional property manager on your side, but there are times when the stress and financial tightroping just aren’t worth it.  Don’t hold on forever if it’s a negative and not good for you. No one should continue a practice that causes them harm, but Nexus recommends really diving in for about 12 months to fully understand and appreciate your asset. At the end of a year you might decide that you do want to sell, but a full year is going to teach you more than it hurts you. Big decisions should never be made in haste and investment decisions should never be made without an eye toward how to perform better next time around.

 

NEXUS PROPERTY MANAGEMENT® FRANCHISE OPPORTUNITIES AVAILABLE

 

WHAT OTHER PEOPLE ARE READING:

  1. ALL YOU NEED TO KNOW ABOUT TENANT SECURITY DEPOSITS
  2. RAISE RENT ALL AT ONCE OR INTERMITTENTLY?
  3. TENANT VS. TENANT CONFLICTS: WHAT TO DO

 Mick Lefort is the Vice President of Operations for Nexus Property Management®. A National Property Management Franchise that manages all types of rental property from single family homes or condos to large apartment buildings and complexes.

 

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Nexus Feedback

Nexxus is great with us. The calls are answered and Tom Morris always gets in touch with us to touch base about whatever the situation is. He's always pleasant and knows exactly what needs to be done. He is quick to answer and fix the problem in a timely manner the same day. Which is great because it's usually an emergency. Tom M. let's me know what the problem is and what he has to do to fix it. Which I appreciate greatly. Always happy to have him work out the problem.

15 Dec 2019

05 Oct 2021

Tom Gannon came to my property to fix several issues with lighting and electrical problems. He was very punctual and professional. He had to return several times (because of lack of availability of parts) but always called ahead with plenty of notice and was very professional and personable. Highly recommend him. Pete Zampine

15 Oct 2021