How many of us have heard the expression, “If it is not broken don’t fix it?” Surely many of us have both heard this expression and not heeded its traditional wisdom.
Today I would like to apply that ‘wisdom’ to cash-flowing real estate investments; in this case good performing rental property. Most of us are aware that real estate prices have increased considerably in both the residential and commercial markets. In view of this many feel that it is a good time to sell the properties that you purchased when prices were much more favorable. We have seen a bit of this in the real estate market here in Southwest Florida. Some have called this area the epicenter of the real estate bust back in 2007-2009. That may or may not be true but one thing is for sure, real estate prices have rebounded quite nicely from that time period until today. So maybe now is a good time to sell that real estate that you bought back then and…do what with the proceeds?