Considerations when selling.

[Daniel Baker]

Hello everyone, 

Looking to get a little insight into what things I should take into account when selling a property. Short version... I have owned this property for 8 years, 7 as a rental property. Monthly cash flow is positive. There is an offer to buy but if I include everything I've spent over the years, mortgage P&I, taxes, insurance, HOA, and recent repairs, I will just break even. How much net profit in general should I look for on a long term buy and hold rental property like this? Thanks in advance, look forward to being a part of the BiggerPockets community. DB

[Caleb Brown]

If you got a sight unseen, off market offer it could be a low baller. I'd have an agent run comps and see if they are offering a fair amount. From there it's up to you on selling. 8 years you should be not breaking even unless this place is in a rough area or needed a ton for repairs over the years. If it's a good rental and you don't need to sell, sit tight but if you can sell at a profit and reinvest into a better property I would suggest that.