Blog Post

Should I Rent or Sell

stevedeardorff • Oct 08, 2020

This is a common question when speaking to potential new clients.  Everyone’s situation is different but I will start off by sharing one of my personal experiences.  Years ago I worked as a private client banker for JPMorgan Chase, my clients were wealthy people.  There was one common item among most of them and that is that they owned some sort of investment property; commercial, retail, farmland, industrial and mostly residential.  That experience convinced me that the best way for a family to establish financial freedom is to own rental property.
If you do a quick search on the internet about renting vs selling residential property or reasons to rent vs sell or any number of search terms there are thousands of articles about the subject.  A great place to start might be these three from renterswarehouse rockethomes and zillow .
Don't forget to talk to your tax professional as they will have valuable insight about your particular situation.  As you do your research also consider that some markets will offer better cash flow (rent income vs asset cost) and some markets will offer better long term appreciation in exchange for lower cash flow.  The Portland metro area is in the latter category.  Renting a home here will typically give you great long term results at the expense of short term cash flow.  Perfect if you are in your prime earning years now.
In summary my opinion is that long term wealth can be created with real estate investment.  Rather than incurring expensive real estate transaction costs by constantly buying and selling homes, keep the home you already own.   Eventually your home is paid off, rents have risen and you retire with all that extra income and the ability to sell a highly appreciated asset.  We are experts at managing residential real estate and would like to be your partner in success.

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