Updated almost 4 years ago on . Most recent reply
Need help deciding when to sell a property
I purchased a SFH several years back just after the market drop which has appreciated to about 2-3x the initial purchase price according to current comps. I currently have a tenant that has taken decent care of the property and I've not had major issues with but is considering moving soon. I'd like to purchase a multi-unit rentals closer to where I currently live when I can find the right deal. The current rental does not currently have a mortgage on it.
I'm trying to decide what makes the most financial sense, should I hold onto the property with the heightened rental demand and use it as a hedge against inflation or go ahead and sell with the currently high real estate prices before interest rates spike too much and drive down prices/demand, and hold onto the funds until I find a property that meets more of my criteria. Thanks for any thoughts/suggestions you have!