Dawna is a real pro! I am so glad she was on our team. For nearly four years she guided us through the volatility of the San Luis Obispo housing market, answering our questions from a far (we live in Montana) and flagging appropriate properties or developments along the way. When the timing was right and we found just what we were looking for, Dawna expertly guided us through the negotiations and inspections. This wasn't our first home buying experience, but we really appreciated how easy Dawna and her assistant made the whole process. We successfully closed in less than 30 days.
- What are your future plans? Do you plan to return to the area and want to move back in to the house? If so, do you expect it will be suitable for your needs at that time?
- What is your property condition? Is it rentable in its current condition or does it need repairs? What repairs will be required if you rent out the property. Get a property inspection to determine condition. The legal required repairs may be less demanding if the property is for sale, instead of for rent.
- How do you feel about being a property manager? Are you up to date on current laws and property requirements as a property manager? Are there professional property management services available? Evaluate the costs of management and how it will affect your cash flow on the property.
- What are your financial consequences? Talk to your tax advisor about the impact to your finances and tax obligation if you are to receive rental income. If you continue to own, find out if you will have negative or positive cash flow. If you sell, how much after-tax proceeds will you get to keep?
- What are local market conditions? What is the local rental market demand for the kind of home that you have, today and in the future? If you sell instead, how quickly will your home sell and what are projections for future value if you were to wait to sell?