BiggerPockets Real Estate Podcast
Episode: We’re Selling Our Rentals (Here’s Why)
Date: April 8, 2026
Hosts: Henry Washington (“A”) and Dave Meyer (“B”)

Episode Overview

This episode, featuring Henry Washington and Dave Meyer, dives deep into the reasons experienced investors may opt to sell some of their rental properties—even in a still-lucrative market. Contrary to “never sell” dogma, both hosts share how re-evaluating portfolios, personal goals, maintenance headaches, financial flexibility, and market conditions can shape a healthy investing journey. The conversation unpacks the “harvest stage,” portfolio rebalancing, trigger points for selling, and advice for new investors considering properties sold by experienced landlords.

Key Discussion Points & Insights

1. Selling Is a Strategic Tool, Not a Panic Button

• Neither host is liquidating wholesale: Both are selling selectively while simultaneously buying new properties, emphasizing this is not a signal of a looming crash.
  • “I'm selling and buying real estate all at the same time. If that sounds crazy, then let me break it down for you.” —Henry (00:21)
  • “Selling, I think, is just a tool. Just like acquisitions…It's one strategic lever.” —Dave (01:41)
• Debunking ‘Never Sell’ Mantra: Both challenge the traditional advice to hold every property forever.
  • “I just never understand those people who are like ‘buy and never sell’. It's just so stubborn and silly.” —Dave (01:49)

2. Evolving Investor Goals: Harvest, Stabilize, and Protect

• Stages of an Investing Career:
  • Referencing Chad Carson, Dave breaks down three stages: start, growth, and harvest.
  • Growth: hustling deals; Harvest: aligning assets with desired lifestyle.
    “I'm trying to go into what I'm calling the end game portfolio.” —Dave (05:15)
• Henry’s Three Buckets: Growth, stabilization, and protection (paying off assets).
  • “Protecting what you've built is part of my process… I want [my children] to have income-producing assets.” —Henry (07:29)
  • He sells to pay down other mortgages and leave debt-free assets for his children.
• Both hosts stress that strategy must evolve with life changes and shifting financial goals.
  • “Now we're making adjustments based on our…end goals.” —Henry (09:14)
  • “You can build any life that you want, and you can position your portfolio to support the life that you want.” —Henry (09:18)

3. The Decision to Sell: Goal Clarity & Market Context

• Personal and analytical reasons to sell:
  • Lowering management headaches or risk (debt), wanting more passive investments, or seeking higher returns elsewhere.
  • “There are also just times that it makes more sense. You will make more money in real estate by selling and buying something else.” —Dave (03:17)
• Responding to market conditions:
  • Both hosts clarify they’re not selling out of fear of crashing values.
  • “I'm able to capitalize by selling assets that make sense for me to sell and getting a decent chunk of money.” —Henry (10:48)
  • Dave is shifting away from appreciation-focused deals toward cash flow opportunities, believing the latter will improve soon. (11:41)

4. Trigger Points for Selling Rentals

• Return on Equity (ROE):
  • Dave’s main metric: sell when an asset’s ROE is below what’s possible with a new purchase.
  • “If I can get a 12% ROE versus 9% from an old property, I’m probably going to sell.” —Dave (16:48)
• “Vibes” and Headaches:
  • Both cite personal tolerance and aggravation as valid reasons to sell even if the property cash flows.
  • “I have walked into properties, rentals that I've bought, and just in the middle of a turn and went, I don't want this anymore.” —Henry (19:20)
  • Dave shares a property he’s selling due to persistent tenant/neighbor issues.
    “Sometimes, selling is just vibes.” —Dave (19:17)
• Assessing Renovations vs. Selling:
  • Decision often comes down to whether it’s better to improve an asset or use those funds for a better deal.
    (See Henry’s example about spending $25,000 on repairs vs. buying another property at 19:46–21:44)

5. Advice for New Investors: Should You Buy from Old Landlords?

• Opportunity, Not a Red Flag:
  • “Absolutely not. I actually think it's some of the better opportunities, to be honest.” —Dave (29:48)
  • Cites under-market rents and deferred maintenance as value-add chances.
  • “A solid chunk of my portfolio came from landlords getting out of the business. But this is the entire point of the underwriting and due diligence process.” —Henry (31:24)
• Underwriting Discipline:
  • Don’t overbid just to appease a seller or avoid rejection.
  • “Get good at underwriting… What a seller wants for their property is between them and Jesus.” —Henry (32:21)

6. How Often Should You Analyze Your Portfolio?

• Twice a Year Is Recommended:
  • Dave suggests reviewing ROE and portfolio performance every six months (or quarterly for the highly engaged).
  • “It may take you a year to get a property ready to sell so that you can maximize the value.” —Henry (34:44)
  • Regular review helps you capitalize on favorable market timing, plan tenant non-renewals, and prepare renovations.

7. Challenging “Buy and Never Sell”

• “I think buy and never sell is just unrealistic advice.” —Henry (36:39)
• Maintenance, changing markets, and personal needs make holding every asset forever impractical.
• Dave tells how he sold a home for a large profit, then saw it stall in value for years—validating his strategy to re-deploy equity into better deals. (37:45–39:43)

Notable Quotes & Memorable Moments

• “Sometimes you just need some money, Dave, and you gotta sell something to get some money.” —Henry (02:07)
• “Real estate to me, always has been and always will be a means to an end.” —Dave (02:53)
• “My goal has always been to be able to leave paid off assets for my children.” —Henry (07:36)
• “If you understand your goals, that’s how you start to decide if you’re going to sell.” —Dave (10:04)
• “If they're not earning me like solid cash flow…what's the point of holding on to an old building that's not going to appreciate and has mid cash flow?” —Dave (11:41)
• “Selling based on vibes.” —Henry (19:20)
• “You have that property that you don’t want to own anymore.” —Dave (18:49)
• “Don’t be afraid to buy from anyone…What a seller wants for their property is between them and Jesus.” —Henry (32:21)
• “Had I held onto that deal forever… I would have made a lot less money. Just think critically about the best way to use your time and money.” —Dave (39:07)

Timestamps for Important Segments

• Intro: Why Sell Now? (00:00–02:53)
• Investor Life Cycles/Harvesting vs. Growing (04:08–09:14)
• Goals-Driven Decision Making (10:04–11:41)
• Market Conditions & Portfolio Shifts (11:41–13:06)
• Trigger Points: What to Sell and Why (16:48–24:05)
• Evaluating Sale vs. Renovation (19:46–21:44)
• Pain Points: Maintenance & Tenant Issues (23:43–24:38)
• Should New Investors Fear Buying from Old Landlords? (29:48–33:01)
• Offer Discipline / Underwriting Advice (32:21–33:01)
• Portfolio Review Frequency (34:06–35:53)
• Debunking ‘Never Sell’ (36:39–39:43)
• Final Thoughts / Gearing Up for the Next Phase (40:52–41:45)

Takeaways

• Selling is part of a balanced investing strategy. Regularly assess your portfolio with clear goals in mind; sometimes, selling is the optimal move.
• Older investors selling isn’t always a warning sign—often, it means value-add opportunity for a new buyer. Diligent underwriting is key.
• Don’t be dogmatic: The “never sell” mantra doesn’t reflect reality—markets, portfolios, and lives change.
• Review your assets at least twice yearly so you’re ready to act when opportunity arises.

Hosts: Henry Washington and Dave Meyer
For more on real estate investing, visit BiggerPockets.

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