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Giving up? Selling off those investment properties?

Real Estate has plenty of ups and downs, this year has been serving them left and right in our economy and in our real estate market. As an investor the outlook has gone from grim to much better. I encounter lots of investors who bought at the height of the boom and now are stuck with investment properties that aren’t what they would buy in today’s market. Let me give you a few tips to maybe lessen the burden of keeping some of those properties.

  • Keep them up to code, property violation fines are costly and unnecessary. Have regular inspections done to assure you’re up to code.
  • Keep good records
  • Shop for the best price and quality of work, the cheapest isn’t always the best which you probably already know, avoid doing the job twice
  • If you are financially distressed without prescription and need to unload some of your property due to rising cost of ownership, a short sale could be an option (this is not a quick fix and should be handled by a pro)
  • Don’t let this market paralyze you, if you’re capable of buying without betting your home, do it
  • Network with other people to find people who know what they’re doing, the real team players
  • Just make it happen
Stay the course and weather the storm, we’re all in this boat together!
Alex Reedy