Value add buy & hold or buy & sell

[Calvin Liang]

My thought about multifamily buy&hold is mostly from the podcast “lifetime cashflow through real estate investing”. I recently read this book “the complete guild to buying and selling apartment building”. This book favorites buy&sell over hold. 

Both of them put a lot of emphasis on value add. I am just about to close my first 5 units apartment deal. For those who has longer investment experiences, what is your take on this.

Assume that We purchase the same propert for both approach, for buy&hold the plan is to refinance out for the next purchase. What do you think would turn out better in 8 - 15 years period? Buy&hold, buy&sell or the mixed of both case by case?

[Corby Goade]

My totally biased, but correct opinion, is if it meets your cash flow criteria, you keep them indefinitely. I very rarely sell because I'd much rather reap the long term rewards later than the short term reward now. Would I rather have $30k today or $1500 every month for the rest of my life (and my kids' lives) starting in 20 years? I'll wait the 20 years if the cash flow now allows me to. I truly believe that willingness and ability to delay gratification is the number one trait for the average person to make it in RE.