Do I sell it all and call it a day??
BP,
I've been wrestling back and forth on whether or not I should sell my entire multifamily portfolio and get out of the game, so I figured I'd throw a post on here to get a little insight!
My current portfolio consists of 160 multifamily apartment units, over the course of a 10 year period it has taken a lot of hard work and sacrifice to get to the point of where I am.
Most of my portfolio is mainly B class properties, with some A class properties mixed in. All in decent/good locations. All properties have been managed very well over the years and currently has a great tenant base with no vacancies.
The main reason of potentially wanting to sell is that the maintenance calls are starting to wear on me. I manage all these properties by myself and it just takes a toll dealing with 160 people on a daily basis. I've went down the road with a management company before, and I refuse to go back down that road. It is what it is, other people don't manage or treat the properties like the actual owner. It is essentially, my baby.
I am also only 37 years old. Which I'd like to think is still a fairly young man lol. So do I hang on for 5 more years or so? I still do enjoy the game of chasing deals, it is what really keeps me going and gets me excited, but managing after the fact has just turned to wearing on me a bit.
Also, most of my property is based in Illinois (it is my backyard) and the taxes around here are brutal. It's just not the best state to be invested in, as I'm sure you all know.
I would absolutely miss the cash flow aspect of it though, getting re occurring income every month is definitely something I weigh in not to sell.
I would prefer not to go into numbers on here, but if it comes down to it, I will. If inboxing me is better to get into the numbers game, feel free to do so!
I know that is all fairly brief, so if there's any other questions, feel free to ask! I appreciate all the feedback!