Is this the time to be selling your rentals

[Devang Patel]

Prices are at an all time high and demand for rental properties is skyrocketing. For those of us who purchased a few properties after the crash, the appreciation is staggering. Is it time to sell and leave the table and cash out while you can?  If you can make now what it would take you to make 10 years of cashflow, does it make sense to sell?  I feel like with impending legislation, especially in NJ, it is becoming more and more difficult to be a private landlord    

[Phil Parris]

Devang,  We had a free & clear property that was vacant we were considering for rent; In my area we estimated it would rent for roughly $1k per month. Which we believe is good cash flow.  We also spoke with our trusted realtor; we had our realtor assess the home and of course our realtor suggested making some updates and listing it. We went with our realtors suggestion.  Id say we spent about 8k in updates and took about a month to get it looking how we wanted. OMG we received multiple offers some up to 20k over our listing amount. We had soooo many offers we jokingly accused our realtor of starting a bidding war.  Long story short, after doing the math it would take roughly 12.5 years to get our offer amount by renting; yeah we understand homes usually appreciate over time; however in these current times where demand is super high; and all the red tape surrounding landlords; Id say cut sling load and sell. Go with the flow of the sellers market and Cash Out!