Selling Rental Property

[Shari Nott mcKinley]

Hello...

I’m very new here and have really enjoyed reading the posts and advice. I’ve been a buy and hold investor for a dozen years and I can’t believe how much I’ve learned from this site in a few short days! 

I currently own 4 rental properties (and 1 flip I’m trying to complete...but that’s for another post). I have accumulated these properties over the past 11 years or so. They all have good positive cash flow. Two properties have doubled in value and two have more than tripled in value. I’ve been able to pay off 2 of the properties and the other 2 have very small balances remaining.

Because of these investments I’ve been setting goals and have had an amazing plan set up to retire early from teaching kindergarten (next year) so I could enjoy traveling and to spend more time with my husband. I also always wanted to start flipping houses after retirement.

THEN suddenly everything in my life changed when my husband died unexpectedly.  So...my financial income has also changed significantly too. I’m still retiring from teaching...that decision I’ve already made.  But now I need to make sure I’m making my investments and money work even harder for me! 

Should I start selling my rental properties soon since I know it will give me a nice guaranteed cushion in the bank now? I’m concerned that if the values fall I will have missed an opportunity to cash in. Or should I sit on them since they’re all giving me income which will probably continue to increase? 

[Terrell Garren]

@Shari Nott mcKinley  I'm so sorry to hear about the loss of your husband and hope you are ok.  Dave Ramsey's advice is usually out of step with this audience but may apply here - Avoid doing anything rash the first 12 months.  Allow yourself a chance to heal and see where life is headed. Then make your decisions with a clear head. I wish you the best, Terrell