The residential real estate market took a quick and dramatic U-turn during the second half of 2022. While we said goodbye to the bidding frenzy and higher-than-high price tags that vexed buyers, we traded it for a not-so-ideal market for sellers.
The security of selling and making a profit is no longer a guarantee—so, if you’re a seller in 2023 you might be considering holding onto that property (or properties) for a while longer.
Homeowners and real estate investors are seeing an entirely different market than even last summer. So, the question becomes: do you sell your property and move on or keep it for what could be a few months–or a few years–longer.
If you have other plans for your money, it’s tempting to sell a property and pocket the capital, but there are also alternative ways to make money without putting it on the market. PadSplit is a great way to make passive income in the short term while you wait for market conditions to improve.
If you have an underutilized space, rather than sell at a break even or loss, roll the dice with an individual renter, or try to play the vacation rental game, you can transform your space into the perfect PadSplit property, with multiple bedrooms for rent.
This will not only provide affordable housing to community members in need, but you’ll also collect monthly income without having to sell. PadSplit even takes those landlord responsibilities off your hands, so you can simply sit back and collect consistent and reliable income each month.
PadSplit is a great alternative solution to keep revenue coming in if the market isn’t working in your favor. While it can be tempting to cash out and collect, it can be extremely lucrative and worth your while to wait out the market cycle and rent your property with PadSplit in the interim.