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Updated over 7 years ago on . Most recent reply
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Should liquidate some assetts in this crazy market?
There's probably no white or black answer for this but I'm gonna ask anyway. I own a couple of non-real estate related businesses that throw off pretty good cash flow and support my family. I also have about 100 rental properties that are on short term payoffs (5-7 year mortgages) and a free and clear commercial building in a crazy hot downtown area that has been undergoing a major revitalization for the last several years. I think I could sell the building for top dollar right now (1 - 1.2 million) I am currently learning about multi-family and want to purchase a sizable property with OPM as well as using the equity from my building so I have plenty of skin in the game. The problem is Multifamily and commercial real estate, in general, seems to be a seller's market right now. Lot's of building going on and absorption seems to be slowing quite a bit. My question is: Should I sell my commercial building to free up some liquidity while I am learning Multifamily, building my investor base, and preparing for a market correction? I am very patient and want to act on a solid deal, just like to be prepared when one comes along.