Whenever you own property keep a track of what you feel it is worth and have a price in your mind at all times for which you will sell it. Building a portfolio is a very fulfilling activity but you can never go wrong taking a good profit.
You should not put yourself in a state of mind where you would never sell a piece of property, there is nothing wrong with having a high asking price or setting a figure under which it is not worth the trouble of selling just to buy back into the market and have the bother of finding another property.
Your potential disposal price should make sense to you taking into consideration all the factors relating to holding, selling & buying back in. But there definitely Is a price where it would be better to sell, This is the price you should know even if it is not achievable for the moment.
This keeps you in the real world and stops you getting stuck in one mind set, let people in the industry know your property is always for sale “at the right price”, perhaps have a printed sheet with the properties & prices on, you could be surprised what the right purchaser is willing to pay.
Remember there is an acceptable premium that can be paid for someone to acquire a portfolio of properties which are well let, the cost of putting together your portfolio in time & money could be added to the basic value and acceptable to a purchaser, you will have effectively packaged it up for someone “cash rich - time poor”.
Everything’s for sale
At the right price!
(or should be!)
