Should I Sell My Rental Property Right Now?

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[JustAName-itqp]

CALLER!!! Hope you read this! Recently transitioned out, work on your VA disability, get a sleep study and keep good medical records.

[richardgalvan]

That surprise in the callers voice in the beginning, I’ve called into the show before, they don’t warn you when you’re up. They put you in a queue and on the spot, Dave decides which call he’s gonna take based on what the subject matter of the call is (because the call screener will ask)… so when his name came up, he didn’t know he was coming up until Dave said his name

[lkjg]

This is a major decision for this couple and deserves more thoughtful response than an off the cuff "you got muh baybee steps out of sequence. Sell."

Questions not asked:
What is the "financial mess" you are referring to?
What are you going to do with the proceeds from the sale?
How long has this been a rental property?
Are you looking to buy a home when you get out of the service?
What will be your capital gains if you do sell?

When all is said and done, perhaps the correct course of action is to sell the property. Perhaps not. Hopefully, this caller will talk with someone who will give him a more thoughtful answer.

[cathy]

I have a rental property in fayetteville nc, fort bragg. Rent as well as the value of the house have doubled. I get calls daily on it. North Carolina is red hot, it has been. Fayetteville is getting ready to open two new plants creating even more jobs.

[Mr_Fairdale]

“If you didn’t own it today would you buy it today” is Dave’s advice here.

“You make money on real estate at the time of the purchase” is also advice Dave has said in the past.

I agree with the second quote, and am curious why Dave seems incurious about this guy’s numbers. Buying it today isn’t the same as buying back when he did.

[joeriveracomedy]

I have a hard time selling my comic collection sentiment wise but getting lowball offers makes it easy to abstain

[ytr]

He could just live in the rental home, work at the prison, and just pay it off. If he sells it, then what kind of home could he buy with $50k 🤷

[JA-regi]

Horrible advice from Dave, do not sell a cash flowing asset.

[newwaymortgage]

Straightforward advice LOL. But totally agree with Dave's advice since he's transitioning from the military. Good luck, Sir. Thank you for your service!

[jbandt]

Wouldn't they need a place to live after leaving the military since they live on base now? Why not keep it and live in it?

[path]

In my opinion, the only situation in which it makes sense to sell your rental property is when you're experiencing significant negative cash flow and the property's value isn't consistently increasing. Additionally, if your property requires frequent repairs and maintenance, it may be best to part with it.

[lordjael]

Insane how many people spend so much time in the military receiving free housing and benefits with no much financial freedom to show for unless they are injured or something. Very interesting.

[neilsmith]

No Way. Rent sky high sellers are dropping prices like crazy

[vLife]

Some times it's about the type of property. Florida High-rises are a nightmare, they rent well, but insurance, maintenance, taxes, restrictions and special assessments will make you wish you never bought it. Too often the the decision to sell is about paying $50k in taxes now and turning a semi passive 7% yearly return into a passive 4% return. I have something like this I want to sell, but it's not like I have any better plans for the money beyond not wanting to own it and thinking we are about to wish we had sold it. Seriously thinking the best return on money will soon be the freedom and time it will buy. Prices can't keep going up and my concern is we are running out of crazy suckers in this econony.

[memecat]

Dave said house prices won’t go down and he is sorry for misleading them.

[jimmymcgill]

No. I would not be selling.
Dave really know nothing about what's going on. He did not follow up with any questions.
You only sell it if you are make no profit on it.

But Dave always use strawman arguments for everything.

[philuent]

No sacrifice, no victory. -Sam Witwicky

[Mavryck_Tha_Myghty]

Heard this story before. Is this a re-post?

[edhcb]

More like “can” you sell your rental property right now? Too late Buddy!

[cmritchie]

@5:45 sold their motorcycle...maybe that motorcycle is to offset the miles to their vehicle(s) Sell the boat; maybe that boat can be leased by the hour and generate income.