Lender · Boynton Beach, FL · Member since 2026 · 12 posts · 2 votes
Question for Delray / Boynton landlords - I noticed 1124 Anchor PT, 650 Anchor P area many owners bought 2014-2015 for $350k-$385k now worth $1M+ but still renting. For long-term holders, at what point do you cash out vs keep dealing with tenants/ HOA? Curious what you did when equity hit $600k+? Sell as-is occupied or wait for vacant?
Investor · Collierville, TN 38017 · Member since 2017 · 644 posts · 471 votes
1d
Run the math both ways before you decide.
Selling vacant: you get top dollar from an owner-occupant buyer, but you're carrying the mortgage, taxes, insurance, and HOA every month it sits empty. On a $1M property, three months of vacancy is real money.
Selling occupied: you sell to an investor at a discount, but you close fast with zero carrying costs and no turnover work.
With $600K+ in equity, I'd list it occupied with a strong tenant and a clean rent roll. Investors pay for certainty. A good tenant paying on time is a selling point, not a problem.
The exception: if the tenant is difficult or below market, get the unit vacant first. A bad tenant kills more deals than an empty unit ever will.
Lender · Boynton Beach, FL · Member since 2026 · 12 posts · 2 votes
1d
Great breakdown James - Thanks! That's exactly my dilemma on 1124 Anchor PT / 650 Anchor P Delray - Both 2014 buyers at $350k-$385k now $1M+ but tenant in place paying below market. So you would keep tenant and sell occupied to investor at discount vs wait 60 days vacant for retail? For Anchor P area, what discount % would you take for 10-day as-is occupied vs 90-day MLS vacant? Trying to give owner real math. Appreciate 454 doors wisdom!