Last week I was doing some work on some of my rentals. It just hit me, these places are old! Everything works fine and my tenants that live there would not have it any other way but as an investor, boy they sure are old!
So my little investor's brain churning all kinds of ideas. As a real estate agent, I get into a lot of houses and see some really wonderful space to live in. Many of these ideas I could implement on my properties. It all sounds good.
Most of my houses are on big lots and it does not make sense to dump hundreds of thousands of dollars to only see a few thousand dollars more in rent. Not to mention time lost in getting the work done.
The Law Of Diminishing Return is really playing hard on me. I have owned them for a heck of a long time but regardless. Money is money and it has to make sense for me to do something. It has to make Dollars and Cents!
I know I have spoken here before about renovating them and all that. Have talked about all the things I would do as improvements. Right now after a little pencil work before I do any back work, I am leaning towards selling, paying my taxes and buying new.
I am working on more financing right now, not because I need it but because I like the feel of $1,000,000.00 in my hands. Walking on my properties is nice too but not the same.
Liquidity is the most important thing right now I feel. As you can see, I got all kinds of ideas.
My thoughts now are to sell, leverage and buy a ton of new stuff and just let it ride. Pay my capital gains and change the game.
It has been a struggle for me as to whether I take the high road or the low road. Right now my thoughts are here but by the time I actually do anything who knows.
Thank you for listening.