I mentioned to a few people around town that I’d be willing to sell my condo portfolio. Didn’t think it would go anywhere. And now I have an offer for 3.9m can’t believe it. But also not sure if ..

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Hell no I wouldnt sell

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I should do it. I owe 2m. How do I think about this? I’ve bought these places up over the last 15 years. Loved them, nurtured them. Clearing about 150k/year now. Once they are paid off in the next 15-20 years will be more of course. I was planning on these as my retirement income. I’m about 10-20 years away. If I have $2m what would I even put it in?

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You are living my dream. How many places do you own? My goal is to keep my properties until retirement and live off of the income, and pass the investment on to loved ones. It sounds like you like this type of side hustle, and need advice on where to invest. I can’t help with that as I’m investing the same way you did. I can say if you want to take a gamble on the market crashing in 2020, you could take the cash now and buy up properties in the next lull. It’s a good dilemma to have but this is 15 years of hard work and smart investing.. get an accountant or do the projections yourself for the next 20 (or X) years. I personally wouldn’t sell.

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$150k/ year on $1.9M in equity is about 8% ROI on Income alone. That’s including debt interest?

If so, your ROI will mostly go up, along with asset appreciation. You’d be hard pressed to find an investment vehicle that could outperform those numbers with consistency

Yes including debt service and princ paydown

Wait you’re making $150k/year AFTER principle pay down? Cause that means your income is even higher than $150k, that’s just CF.

I wouldn’t sell then, not for $3.9M

What why sell now? What are you doing with that extra 150k a year? If you are worried and want to reduce risk or something start paying off the properties with the smallest mortgage amount due and work your way up increasing the cash flows incrementally until you owe nothing. Why sell?

Property management will eat up a lot of your income as well as the maintenance costs. I think you have done a great job and subscribe to the bird in hand theory. Why not take the money and put that back into a newer investment if/when you decide to step back or change locations?

What you’ve accomplished is amazing! I’m in the learning phase right now, in my early thirties and a mom of two little ones. I’m trying to get myself ready to make a move, but can’t seems find or make up my mind about where to buy for shear passive income - I’m ok with landlording but can’t do rehabs. I would love to know what’s your strategy and where you invest and how you assess your deals!

M1 - figure out what metrics you want to track, and apply them to an area you want to invest in.

I’d start with: NOI, ROI, and capitalization rate.

HOLD!!

This is a good question. Gut tells me to hold and bank the 150k/yr. However adding prop mgmt + increasing HOA fees makes it a worthy discussion.

Still think I'd hold and take the cashflow + long term appreciation.

Amazing. Thanks

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