Have you ever wondered, as a real estate investor, about timing portfolio changes?
Transcript: Hi this is Jeff Brown the “BawldGuy”. Today were going to talk about when real estate investors should make a move in their portfolio. Now what’s the agenda is the question you always need to ask. Here’s the main factor you should always consider. Is the move a no-brainer? To me that’s axiomatic. If it’s not a not a no-brainer, don’t do it. It’s too much hassle to make major moves in your portfolio, for them to be sideways moves. Now there can be exceptions to that. I’ll give you an example here. I had a client many years ago who came to me with many properties that were either badly located or in horrible physical shape, sometimes both. What we did was simply take all four or five of them, we moved them sideways into like-kind buildings, but in massively superior condition and local. What that allowed them to do then was have time pass, such that when it was time for them to make their next move, the next no-brainer move, they were able to do it smoothly, and it was much more beneficial than had they kept their old badly located, horrible looking buildings. Now, one of the things that you have to understand is that just because you don’t like the kind of building you’re in, maybe you’re thinking you need to get bigger faster, that’s not the case sometimes. Again, look at no-brainer. That’s the take away for today, everything has to be easy when you’re making that decision. This is Jeff Brown the BawldGuy. Thanks for joining me today, and we’ll catch you next time.