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This question was asked on facebook and I thought it a good one.The answer is ... it depends on a number of factors, including your personal situation.These are the following questions that you could ask yourself to help you reach the answer that is right for you and the property in question:1. Is the property serving your needs and can take you closer to your goals?2. Does the property have positive net cash flow month on month? (If you have significant other income, then this may not be such an important factor to you).3. Does the property have potential for capital growth over time?4. Does the property have development potential such as loft conversion or using PD rights to extend?5. Is the property in an improving area or an area that is going down hill?6. Does the property in some way negatively effect your tax position?7. Do you feel confident about managing the property yourself or the agents that you have managing it?8. Has the property had poor quality tenants with high turnover, or attracted good quality tenants who stay for a sustained period?9. Is the property going to need major works in the future such as lease extension, new boiler, new carpets, refurbishment etc. that you may struggle to afford?10. Could the sale of this property pay off other more expensive debt like credit cards and car loans, or even a tax liability, which would financially stabilise you and/or help you live a more peaceful life?11. Could the sale of this property enable you to buy a better performing property?12. Do you think you will be able to achieve the price you need to sell at in the current market conditions?Ask yourself those questions and hopefully it will assist in making the answer clear to you.If you do decide to sell see - 7 ways of selling an investment propertyThe above list is non-exhaustive and I would welcome further input from the tribe as to what factors would help them decide whether to keep or sell a property.SEE ALSO - Dilemma - Stick ,Twist or Fold.UP NEXT - Next step - sell residence or rent it out?DON'T MISS - "Accidental" landlord BTL - Sell or hold?NOW WATCH:
Vanessa Warwick Landlord and Co-Founder of PropertyTribes.com **If you have got value from Property Tribes, find out how you can support it in remaining a free to use community resource**
Vanessa, you could add the following:13. Are you a tired landlord?14. Could the sale release you from harassment by Commercial Facility lender?15. Is succession planning proving a challenge because your heirs don't want anything to do with property?
Great additions as always Tumi. Thank you for adding them.
Wonderful thread Vanessa! All questions are great to ask yourself when thinking of selling a property. Fantastic additions from Tumi too.
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