Episode 013: To Keep or To Sell

“I own my home, but I’m ready to move on to a different house. Should I sell my home or rent it out?”
 
This is a great question that every agent out there should be educating their clients to ask. In today’s market, if you’re not considering keeping property as a rental, you’re missing out on a huge opportunity to build future wealth. This week we take a look at some of the details you might not have considered when deciding if it’s time to enter the rental market or it’s better to sell.
 
Rent over Sell: A Long-Term Investment that helps pay for itself
 
The market today is “bananas,” as Bernie likes to say. There is a huge shortage of rental properties right now meaning that there is a huge number of possibilities for homeowners. Putting a house on the rental market and getting into that investor mindset lets you hold on to that property while it’s accumulating value and having the rental income help pay it off over time. It’s a long-term investment with very little downside if managed right.
 
“If my house doesn’t appreciate this year, I still have a house. I have something to sell, I have equity, I have something I can live in, I have something giving me tax advantages.” – Steve
 
The thing that scares most people away from renting is the horror stories of bad tenants. Most of those stories are from people who self-manage their rentals, which brings its own headaches. Property Management companies exist to take over that stress, so use them. It’s about being smart about the investment and covering your bases for any kind of future problems that might arise.
 
It is important to remember, not every house is created equally, meaning that sometimes rental is not the best option, even in this market. Does the HOA prohibit rentals? Is this a large house that would require costly updating if it went through renters quickly? These are some questions that need to be considered as well and need to be answered. But as long as you’re asking the right questions, and are open to taking that risk, owning a home through the year and renting it when it’s a smart investment is a great way to build wealth into the future.
 
“We’re all in a place where no time in the near future you’re going to be able to replace that home for what you paid for it.” – Steve
 
“A lot of people would think ‘I don’t need a property management company,’ but actually they don’t understand the full spectrum of what a property management company does.” – Bernie
 
“Some people who sold their house 18 months ago, if they would have taken the advice with a rental strategy to keep their house, they could have sold it this year and put their kids through college.” – Steve
 
Remember to subscribe and leave a 5-star rating, as well as a review if you’d like us to talk about a subject or if you just want to let us know how much you like the podcast!
 
Follow us on social media!
 
Steve Valentine:  https://www.instagram.com/stevedvalentine/ 
 
Bernie Espinosa: https://www.instagram.com/bernzpix/

“I own my home, but I’m ready to move on to a different house. Should I sell my home or rent it out?”

This is a great question that every agent out there should be educating their clients to ask. In today’s market, if you’re not considering keeping property as a rental, you’re missing out on a huge opportunity to build future wealth. This week we take a look at some of the details you might not have considered when deciding if it’s time to enter the rental market or it’s better to sell.

Rent over Sell: A Long-Term Investment that helps pay for itself

The market today is “bananas,” as Bernie likes to say. There is a huge shortage of rental properties right now meaning that there is a huge number of possibilities for homeowners. Putting a house on the rental market and getting into that investor mindset lets you hold on to that property while it’s accumulating value and having the rental income help pay it off over time. It’s a long-term investment with very little downside if managed right.

“If my house doesn’t appreciate this year, I still have a house. I have something to sell, I have equity, I have something I can live in, I have something giving me tax advantages.” – Steve

The thing that scares most people away from renting is the horror stories of bad tenants. Most of those stories are from people who self-manage their rentals, which brings its own headaches. Property Management companies exist to take over that stress, so use them. It’s about being smart about the investment and covering your bases for any kind of future problems that might arise.

It is important to remember, not every house is created equally, meaning that sometimes rental is not the best option, even in this market. Does the HOA prohibit rentals? Is this a large house that would require costly updating if it went through renters quickly? These are some questions that need to be considered as well and need to be answered. But as long as you’re asking the right questions, and are open to taking that risk, owning a home through the year and renting it when it’s a smart investment is a great way to build wealth into the future.

“We’re all in a place where no time in the near future you’re going to be able to replace that home for what you paid for it.” – Steve

“A lot of people would think ‘I don’t need a property management company,’ but actually they don’t understand the full spectrum of what a property management company does.” – Bernie

“Some people who sold their house 18 months ago, if they would have taken the advice with a rental strategy to keep their house, they could have sold it this year and put their kids through college.” – Steve

Remember to subscribe and leave a 5-star rating, as well as a review if you’d like us to talk about a subject or if you just want to let us know how much you like the podcast!

Follow us on social media!

Steve Valentine:  https://www.instagram.com/stevedvalentine/ 

Bernie Espinosa: https://www.instagram.com/bernzpix/