Selling IPs - do I need to notify PM in writing?

[Nimee]

The PM is aware { I told her verbaly} that I am selling . Do I also need to inform them in writing? She didn't asked for it, but I dont trust this PM very much.

I am selling it through another agency.

Also do I need to write to the tenants? They are aware of sale

 

[abcdiamond]

ALWAYS confirm these things in writing.
Things may never go wrong, but !!! Things tend to go wrong most often when there is nothing in writing.


I would even give a copy to the tenant, as a matter of courtesy.

 

[Nimee]

Thanks abcd, I think i will do just that , to be on the safer side

 

[Mitzi]

Good advice there Nimee - ALWAYS put it in writing - but can I ask your motivation for selling? The Somers principle is buy and hold. You can tell me to mind my own business if you like.

Mitzi

 

[Nimee]

Mitzi, mind you own business

I do whole heartedly agree with buy and hold principle. But in this case I am only selling because I can pay off my ppor. And I am not selling all my IPs.

When I do the numbers it does not make that much of a difference to the overall benifit; but emotionaly it will be a big milestone [what exactly is a milestone?]. especialy for one who arrived here with less than $3000 in hand and no idea what was going to happen.

Another reason is I am going to set up trust for my next purchases.[oh yes I will be buying soon]. And no more undeductible debt. hooray !

 

[Mitzi]

Congratulations Nimee!

Go you good thing - I am now pulling my head in

Mtzi

 

[abcdiamond]

Nimee
You asked:

what exactly is a milestone?

Heres the answer:

In England on every main road there used to be a stone marker every mile, a milestone, so you could tell how far you had gone .

Some of these even had the distance to the next town, and from the last town, so you didn't need to count the stone markers.

So a Milestone is just a point in your chosen path that you have reached.