Should We Stay Or Should We Sell?
Or Maybe… Rent It Out?
Tim and Molly Long worked with The Trinity Real Estate Group’s Matthew Long to buy a house in Marysville in 2006. They enjoyed living in Marysville and being a part of the community. But, by 2012 they “wanted to get closer to work and to our son’s friends as he started school,” says Tim. However, because “prices in the market were pretty low compared to when we bought the house, we thought we had only two options: lose money on the house, or stay in Marysville.” The couple wasn’t thrilled with either choice. So, they were intrigued when Tim’s brother, Realtor Matthew Long, presented an alternative.
Matthew suggested they consider keeping the house as an investment property, renting it out while waiting for home prices in the market to recover. Tim and Molly had never owned investment property before. They were a little anxious about the process at the beginning. Matthew answered all their questions and the numbers made sense, so they took the plunge.
First-Time Rental Property Owners
For the next six years, Tim and Molly enjoyed the rental income from the Marysville house. They enjoyed living closer to work, school, and family. They found that working with Trinity’s experienced property management team made it “really easy,” says Tim. “We didn’t need to be nervous. Matt and his team handled everything. They got it rented for us, and took care of the property and the tenant the whole time. We never had to worry about it.”
When the market heated back up this spring, Tim and Molly worked with Matthew again to sell the house. Their strategy was successful. By waiting for market conditions to improve, the Longs were able to make a good profit and invest it in updates to their current home. Congratulations, Tim and Molly!
Is owning investment property right for you?
The team at The Trinity Real Estate Group offers expertise in both real estate sales and residential property management. We’ll help you understand the unique market conditions for your house so you know all your options when you’re ready to move on. Call The Trinity Real Estate Group today!