Due to a recent Voice mail I received from a prospect I completed a review of - All calls go to Voice Mail - to determine my response. After a move out I completed an update that I went overboard on. House looks great on the inside and outside. Got me to thinking about selling again. Rent and housing prices in our area are up and trending higher, rent a little more so than house prices.

With no advertising two people have called and left voice mails to call them about renting. I have NOT responded to either because my policy is pre-screen via email then talk. But I added some confusion to my policy when I told two people, one a neighbor, who dropped by during the update that I wasn't sure if I was going to rent or sell. How should I answer a possible face to face question about rent or sell?

PG,

Zillow is getting more accurate every day in my area. It will show comps of recent solds in your area. THAT will give a quick idea of it's market value

Z also shows rents. Locally are a little higher than I get but close.

Make a decision with some numbers on paper.

Don't forget capital gains tax will eat away your profit AND you loose the tax shelter when selling.

I only sell with a 1031exhange into another property. I consider it a 37% discount on new prop which I can fix up and increase it's market value.

A few months ago I sold off 5 extreme junkers that needed a TON of construction style rehab, exchanged them into 1 really nice executive home which I can do cosmetic updating and increase it's value by $75-100K. Just a concept to consider.

PLUS the fact I saved 37% on the purchase.

I hate paying taxes to the govt who did not help clean the toilet.

Brad - I am aware of the 1031 exchange in fact I used one in 2008 to buy one of the houses I have. I track local comps specific to the houses I have and I also track raw land sales.

I do have a house I have been watching for a possible upgrade, but the prices are so high. Taxes 2024 will not be a good year for me and the wife. I am starting RMDs. Rentals are profitable with no major repairs pending. And if B goes back in it will get worse.

NE - I needed some confirmation about what to say to folks that just drop by. I guess the rent or sell is as good as any.

I am more likely to think of this as a referral and I love them. So if someone across the street that wants to stay on that street is calling me after they see the U-Haul, it isn't that hard to find out how long they have been next door. VM screening is awesome to limit your leads, you shouldn't be getting that many leads to screen at this point.

I am currently moving a tenant that I have had for 11 years into a different house because after that long, it is time to over haul the place.