Sold California Condo and Bought Couple more in RhodeIsland

[Anuj Sharma]

Hi Guys,

Hope everybody be doing good and people in US will be excited for long weekend - Memorial Day. Few things happened in my real estate life so far this year which I am excited about and would like to share with you nice people out there ;). I sold my california condo which I was managing via property manager remotely and yes through the other corner of US (New England) :-). I have now real estate LLC licensed to do business only in Rhode Island and closed on one condo last month and looking forward for buying my first townhouse next month. Little excited and of course nervous too. Selling is a complicated process especially when you are living in Rhode Island - RI and selling in CA, so I would recommend all investors to at least go through that once for investment property. You suddenly will realize that on papers you might be at no loss, but commissions (6% realtors fee) and blah blah type expenses will increase your loss or eat up your profit . I learned some lessons and hope to apply them in my future purchases/sales of Rhode Island properties. You guys take care,

Anuj

[Ron Boling]

@Anuj Sharma

Thanks for the post. I am currently living in Fall River, MA and have a SFR that I am thinking about selling in Phoenix, AZ in order to purchase a MF in the Newport/Middletown area. What would you say is the biggest issue to look out for when doing this?

Thanks in advance,

Ron Boling