I recently sold 3 of my lower-end rental properties to an investment company and figured I’d share the experience for anyone in a similar position.
These were older, entry-level rentals that I held for a few years. From a pure numbers standpoint, they did what they were supposed to do; consistent occupancy overall, steady (but not amazing) cash flow, and I walked away with a small profit on the sale.
That said, the operational side was a different story. Turnover was higher than I would have liked, and management required a lot more time and attention than some of my other properties. Between frequent tenant changes, maintenance issues, and general wear and tear, it started to feel less like a passive investment and more like an ongoing project.
Ultimately, I decided to exit and redeploy the capital elsewhere. The investment company I sold to made the process pretty straightforward; not top-of-market pricing, but fair enough considering the condition and tenant profile, and the convenience factor was definitely worth something.
No regrets overall. They served their purpose; generated cash flow for a few years and produced a modest gain on exit. Just a reminder that not all rental properties are equal in terms of time, effort, and stress, even if the numbers look decent on paper.
Curious how others here think about holding vs. exiting these types of assets. Also, has anyone else here dealt with Ableman Group or similar investment buyers?