There’s probably a lot of reasons, but here are a few that I have seen:
- People who have bought the wrong house in the wrong area due to a lack of knowledge and research
- Personal circumstances, for example, relationship breakups
- Selling the two rentals and putting the cash into a flasher retirement house – this is not the greatest of ideas
- Just got sick of chasing after tenants
Because the human element and emotion come into our decision making processes, the reasons are numerous and varied. However, the one above that I can’t fathom is selling your income generating rentals to buy a bigger, flasher house to live in during retirement. One that produces no income and costs more to run.
Just doesn’t make any sense to me at all, or maybe I am missing something?
What do you think?