I just met with a couple of gentlemen who are interested in buying my industrial building that we finally finished this past week. It is a tough one since I could find a renter and have the building free cash flow for me pretty easily. However, it makes sense to consider selling the property and moving on to something else.
Often times, I will flip properties quickly versus holding them long term. It really is a matter of cash flow. If the property is generating cash, then it makes sense to keep it and draw cash off. You can always sell it later.
However, the tough part is the beginning when the property is sitting empty and no cash is coming in. That is where I get nervous.
My next step is to put up lease signs and see what I can do with the property.
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