5 things to consider BEFORE selling your multifamily property
The current lending environment
Where are interest rates at? How about amortizations? What are local lenders doing? How far is a buyer’s purchasing power going to go? What can someone realistically pay you for your property?
What’s on the market
Where are you going to be able to put your money to work? Is it a really tight environment? Is it a really easy environment? Are interest rates up, are they down, what’s going on? What are YOU going to be able to purchase with your funds?
Improvements
Is there anything you can do that’s relatively inexpensive and is a way to make your property show better or look nicer to a future buyer?
Upside
How much meat, if any, are you leaving on the bone for a future buyer, because that’s going to help determine your sale price.
Your property’s current performance
Take a deep dive into those financials. Check it out. Can you improve your NOI? Can you get rid of some expenses? Can you make it look a little bit cleaner?