Angelo Sangiacomo NEVER SELLS

[Thomas D.]

This article I saw yesterday really cemented the idea to never sell anything ever. I of course have sold property before and I am selling now. But, I've been stewing on the idea of never selling anything for any reason ever moving forward. This seems to be the only real way to make RE work to create a legacy.

Angelo is one of San Frans biggest property owners and he says he never sold. Heres the article.

http://www.sfgate.com/bayarea/article/Angelo-Sangiacomo-one-of-S-F-s-biggest-6684910.php

[Adam Bartomeo]

I think that you should always keep all options on the table. Selling is one of them. Strategies that have absolutes are often blind to their ever changing environment, like the rust belt states that never changed their main economical source of income from manufacturing.

If an area is declining I would want to sell and get into an area that is increasing. If appreciation is going down I want up, if rents are down I want up, and if real estate is down I want up.

I.e. My father in law owns several properties in IL for 30 years. Despite the maintenance and updating that he has done to the properties The properties are worth the same as when he bought them 30 years ago, rents are low in comparison to other areas, and it is hard to find tenants because people are moving out, not in.

I beleive selling and getting into another asset class that has better potential is much smarter then not selling.