This is a lot of great feedback, thank you.
I hear DJT is about to nix Dodd Frank this afternoon. I wonder if it will affect the 3 loans a year.
This is a tough decision. Sell for cash as a portfolio to an investor and become a HML (take less than market), become the bank (selling 46 properties will be a pain but can be done, then there is DF), or the decision can be to do nothing, and manage the 46 properties and keep collecting the rent (I net $400 a house now, I have been getting nice write-offs as I have been reinvesting the money and adding capital expenses), and see if housing prices continue to go higher.
A few more facts, I am a 15 year GC, been doing this for 3 1/2 years. I do it full time and employee 3 FT handymen. I am only property managing and rehabbing my own properties, but I have thought of expanding to manage other properties.
The reason I have even posted this topic is I am struggling to find new properties in the past 4 months as the prices for distressed properties have almost doubled. The $50K houses are now selling distressed for $100K. If you are buying at the new prices, the $400 a house is not there. The other reason as a business owner, they say, always evaluate your exit. Until prices started spiking, my 20 year plan was to get to 60 homes, rent them till I turned 60, and then sell off 3 a year till god calls me :-)
But the man I met for lunch is 72, has 100 SFH Notes and Mortgages, and now does HML on the side with his 'zero' management financing.
Opinion?
1- Sell now to Investor
2- Be the bank to single purchasers
3- Be the bank to an investor
4- Hold the rent portfolio and sell off slowly at 60 yrs old, regardless of the price.
