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!