We all get into real estate investing for our own reasons. Money is, of course, always a driving factor, but there a dozens of investment opportunities and we all chose real estate. However, just because you thought it was a good idea at the time, doesn't mean you are stuck with it forever. Here are my Ali Safavi Real Estate reasons for selling your investment.
1) You're frequently losing money
On average, you want to make sure your investment properties are cash flow positive. Inevitably you will have a down month, or even a few down months, but on average you should be in the black. If that's not happening, it's a sure sign it's time to pull the plug. Don't waste another year of your life on an investment that's not paying off.
2) Your Heart's Not In It
As I have talked about on my other Ali Safavi real estate blogs, real estate is a hands on investment. If you are looking for more of a spectator sport, play the stock market. You probably bought the property with the best intentions at heart. Then a few months go by, maybe a year, and you find yourself dreading doing anything that has to do with managing the property. Take that dread, and take that property, and get out. Chances are, if you're not caring about your investment then it's going to go downhill.
3) Better Opportunities
In real estate, if the grass is greener on the other side, then you should probably move there. Opportunities are abundant, especially if you open your scope nationwide. If you hear about, or are presented with a better opportunity - take it! Don't stick with a property just because you made that initial investment.
4) Shift In Priorities
Life happens. Priorities shift. Whether it's family or business, sometimes you just can't plan ahead for how you'll be feeling a year or two years down the line. Don't beat yourself up, just be honest. If the investment property is no longer at the top of your priority list, get rid of it and concentrate on what you love or what's most important right now.