The missus managed two landed properties—both solid investments on paper. Each has three rooms, two bathrooms, a gargantuan living room and a garage that can fits two SUVs. Meanwhile, we rent a high-rise apartment closer to work—her work, to be precise.
One of the properties is rented out, covering 80% of that single mortgage. The other? Empty. Completely vacant for about almost a year.
That property is in a prime location—close to the city center, commercial offices, and essential conveniences. Even the old mall nearby now has a cinema. Yet, despite knowing its potential, we left it sitting there, unused, bringing in zero income. Now, it needs repairs. Hindsight, as always, is 20/20, as per my previous post.
We thought about it from time to time, but nothing was done—except paying the repair bills.
If you were sitting on one or two properties, what would you do differently? The rental market post-pandemic is unpredictable, especially for places far from public transportation. Meanwhile, new developments are sprouting like mushrooms after rainfall, increasing competition.
The gist? An empty property is a wasted opportunity. But knowing this now, how do we move forward?
What’s your take—sell, rent, or repurpose?
No comments:
Post a Comment