Shafiq Hirani CCIM identifies three reasons to hold a property: unrecovered NOI leaks that the buyer will capture, rents still rising from repositioning not yet shown in trailing twelve-month statements, and prepayment penalties that could cost six figures if you sell too early.
Now, 3 signals that say wait. 1. You still have unrecovered NOI leaks sitting in your operating statement. Every dollar in there is a dollar the buyer keeps instead of you. 2. Your rents are mid-repositioning. You did the work, but a trailing 12-month statement does not show it yet. Sell now and you are selling on old numbers. 3. Your prepayment penalty has not aged out. Sometimes waiting six months is worth six figures, and understand the difference here: waiting on purpose with a fix already in motion is a strategy. Waiting because you haven't looked at your own numbers in three years is what quietly costs you. Here is the line that gets me pushback, and I am going to say it anyway. If you are waiting for the market to feel better, you have already made your decision, you just have not admitted it yet.
