I’m sure your original goal was to build up some cash flow from rentals and become financially free. However, if you’re reading this then you’ve probably learned over the last couple of years that the rental business is tough. No one likes dealing with dead beat tenants, stopped up toilets, and a home that was destroyed by people that could care less.
The worst part of it is when you have to come out of pocket for the repairs and monthly mortgage when you thought you would have 300 to 500 extra dollars in your pocket each month.
The reasons most New Jersey landlords sell
Reason number 1: You’re tired of the headaches and the negative cash flow each month. No one likes to pay for others to live in their property.
Reason number 2: You need money to pay off debt, send your kids to college, or help out loved ones that are in need.
Reason number 3: The economic area is changing and you no longer want to own property in that area. For better or for worse the quality of living changes over time in certain areas. If you’ve held the property for a long time, depreciated it over multiple years, and you don’t see the value in keeping it then now is the time to sell it for cash.
