The subject of this episode of The Most Dwanderful Real Estate Podcast Ever is when to sell your rentals. But first, Dwan opens up about the day she got a collect call from jail. It was her husband, who had been caught selling a crazy amount of drugs (with his band mates). He would remain in jail for 5 years, leaving Dwan and Ayla to fend for themselves, which ultimately led Dwan down the path she is on now of real estate investing. This was the lowest and most frightening time of Dwan’s life. She divorced him while he was in prison because he was just not the person she had known, and she spent the better part of 10 years resisting any new relationships that would require trust. She met Bill and they dated long distance for 15 months before she built up enough trust to marry him.
When it comes to knowing when to sell one or more of your rental properties, Dwan advises that you sit down for every 10 rentals you acquire and assess where you are. Which properties are in good and bad locations? How are your returns? How many Subject To properties do you have? Would it be beneficial for you to sell one property in order to pay off several of your others? You should only consider this if by selling one you could pay off at least two rental properties.
If you haven’t heard, Dwan has dropped the fee to join the Dwanderful.com Membership Site, so now you have access to the document library, pop-up training calls, and the chat box for FREE!
Time Stamped Show Notes
- 1:37 – Dwan has been drinking a lot of live enzymes and lemon water.
- 2:21 – Dwan opens up about 30 years ago today, the day she became a single mom with only $75 to her name.
- 20:58 – The main lessons that Dwan learned during this time: know who you are married to, it could always be worse, life is so fragile, and Jesus is the answer.
- 27:01 – Dwan talks about how to decide when it is time to sell one or more of your rental properties.
- 30:54 – Defining your “why?” defines the path you take. God gives us all the free will to choose what we do with our lives.
- 35:24 – Decide to do something. Make it happen. You can change your life.
- 38:06 – Work to keep all of your properties paid off.
- 39:02 – Your assignment after this episode is to download the lease addendum and think about what you would want to add to yours.
Connect with Dwan: