So you’re preparing to sell a rental property?
Maybe you want the cash, maybe you want a new property, or maybe you want to get out of the landlord business altogether. Whatever your reason for selling, that’s great because you’re taking action and making strategic moves for the better.
Heck, I personally recommend evaluating each property in your portfolio every few months regardless to keep an eye out for valuation and cash flow trends (whether good or bad). As an investor you should never be afraid to sell off a property if that’s what is best for you.
Here’s the thing about selling a rental property…
It’s not always easy and there’s a big difference between selling a vacant property versus selling an occupied property.
Selling a vacant property is pretty cut and dry: clean it up, work with an agent or sales platform, list it, go through the dance of having open houses, and hopefully sell it in a timely manner.
On the other hand, selling an occupied property is a whole different story. You should first review the lease terms/lease agreement so you have an understanding of what you’re dealing with. Then, it’s time to consider some of the challenges associated with selling an occupied property.
To keep reading, check out the full article I wrote that was published on Roofstock below!