Thoughts - when is it time to sell?

[Dan M.]

So appreciation due to COVID has been a game changer. Equity in my properties that I've held for a while really got boosted this year. I'd like to hear thoughts on when its time to sell a property or just hold it. One in particular I could likely pocket around 150k (pretax) and right now cash flows around 500 / m plus around 400 to equity when I pay the mortgage with potential rent increases down the line. So if it nets around 10,800 it would take me about 10-15 years ( depending on rent increases ) to get that insta burst of cash now. 

Pros of selling: Can tap equity without closing costs of a refi and reinvest at a higher return and scale

Cons of selling: It cash flows nicely and tenants are great, improvements done on the front end makes capex very manageable 

What do you guys think is a good course of action? I'm at a point where I could go either way. 

[Daniel Ziner]

@Dan M. First of all I wanted to congratulate you because it seems like you are in a good place!  It is all about what your goals are.  Personally my goal is to retire early, and hold onto anything I ever buy.  I want to have a large real estate business that I can get my children involved and be able to pass it along to them eventually.  Your decision is also dependent on how liquid you want to be right now.  I believe there is going to be a lot of opportunities coming up due to COVID and it may be nice to have cash at the ready to be able to jump on good deals that become available.  Whatever you decide I am sure it will be best for you.