51. Three questions to ask yourself before selling
Nov 3, 2020
Exploring the current historic low in property supply, the discussion emphasizes the importance of timing and motivation when considering selling. Key questions arise: Why are you selling? Are there better ways to use your proceeds? Can you leverage equity while keeping your property? The conversation highlights the need for thorough planning in investment strategies, along with insights into tax implications and potential reinvestment opportunities.
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volunteer_activism ADVICE
Ask Why You’re Selling
Before selling a property, ask yourself why you want to sell it to understand your true motivation.
Knowing your reason helps decide what to do next with the proceeds.
volunteer_activism ADVICE
Ensure Better Use of Proceeds
Evaluate if you have a better use for the money from selling before listing your property.
Avoid selling if you don’t have a definite, better investment lined up for proceeds.
volunteer_activism ADVICE
Use Equity Without Selling
Consider a cash-out refinance to use your property’s equity without selling it.
This strategy lets you keep rental income while investing equity elsewhere for higher returns.
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Supply in the US is at a historic low, in fact the lowest it has ever been in many markets! That’s one of the reasons prices are so high and also why a lot of people are considering selling. But, there is more to selling a property than just timing. If you are considering selling make sure it aligns with your bigger investment picture.
There are several questions we want to always ask ourselves and make sure we have the answers. Planning is a huge piece of any long term investment and also your path to wealth and financial freedom. So, let’s discuss the following to make sure you’ve considered your options.
For more info on finding the best properties get our free guide and more at restmethods.com
If you want to learn more about Tim’s journey, email us at resilience@restmethods.com for a free copy of the Amazon Best Selling book Tim co-authored: “Resilience, Turning Your Setback Into a Comeback.” Please make sure your subject line says “Book Copy”
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