I was contemplating to selling one of my investment properties in neighboring Atlanta when it became vacant after eviction. Then, Covid-19 pandemic started. Since then, I was debating whether I should go ahead, do a "market-ready" repair and sell it or wait out, i.e. (rent-ready repair and find a tenant) during this uncertain time.
The thing is there does not seem to be much sign of impact on the Atlanta housing market yet: average home prices or days on market. My agent even told me that the Corona virus has not stopped the sale of houses in this price range ($150,000). Inventory of available houses to sell is still low and there are still buyers are out there wanting to take advantage of the low interest rates. Yet, I hesitate to pull a trigger and put it on the market for sale in the mist of such unprecedented time.
At the same time, I am wary of keeping it for rental as well as many renters are among those who have lost their job due to the virus and are not currently paying rent and do not know how hard to find a new tenant during this uncertainty.
My motivation to sell it is that I would eventually want to get out of the rental business by selling my properties with a profit as I figure I do not make as much money as I expected with all repairs and tenant-turnover costs.