DURBAN - There are those who believe you should never sell an investment property, especially if it’s paid off, generating an income for you every month in the form of rental and increasing in value.
Kotzé added that It may be, for example, that your property has reached the rental ceiling for the block or area in which it is situated, while the levies and / or municipal rates are still rising – and diminishing the returns on your investment. If you sold it and put the proceeds towards the purchase of a property that you could rent for more, you could restore and perhaps even increase those returns.
“In fact, if you do find yourself in this situation, you should appoint a great local agent and sell as soon as possible or risk losing the opportunity to maximise the profit you can make on the property.
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