Should I flip or hold my rental property in Frisco TX?
We were recently asked this question by a client who has a rental property. Should I flip or hold my property in Frisco TX as rental? The answer is depends. Sound simple? Yes it is. It really depends on why you are wanting to sell your rental property.
Several reasons of why you might sell your rental:
- You need the equity for personal reasons.
- You are done dealing with managing the tenant.
- You are moving to another state and can no longer manage the property.
- You are reallocating your investment to something else.
Several reasons of why you might want to hold on to your rental:
- It has been paid off. The rental minus expenses (taxes and other expenses) is giving you better ROI that what you can get if you invest the money.
- You have other investment portfolio (stocks, mutual funds….etc) and this is just another type of your investment and see item #1.
- The market trend has been showing an upward gain.
So depending on your reasons, you may or may not sell it. If you are thinking or wandering what to do, call us for a consult.