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Updated over 3 years ago,
Sell as investment opp or wait?
Hi BP,
I have 3 houses in Portland Oregon that are fully rented. I was hoping my tenants would move out this year so I could sell them and retire. But of course, the rental market in Portland is so very hot right now that no one wants to move out! For reference (for those who know the area) its about 2 blocks off Mt Tabor in SE Portland with a part view of Mt Hood.
What to do? Should I wait and sell these later when people finally move out? Or should I try and sell them to investors?
For example, we have a fully remodeled 1911 houses. Upper house is 4 / 2 and rents for $2750 and the basement apartment is a 2/1 that rents for $1850. Realistically this house should sell for approximately 880k.
Would I be able to sell with renters in place or should I wait until at least one of them moves out so it can be half owner occupied and half income property? It's really fancy and nice and everything was done top of the line so when it came time to sell it would match the fancy and top of the line neighborhood.
TIA!