Hello all,
My father has a building in SF that he has been trying to rent out to local business for a couple months. He's owned the building since the late 80s, well before the huge tech boom that has come to the Bay Area. He was offered $3.5 million to buy the building. As it stands right now its valued at just over $3 million. He and I have absolutely no idea what to do or how to proceed. He was never planning on having a buyer come forward and he would rather keep the building and rent it out, but the offer is very enticing. We want to think long term and are wondering if it's smart to sell now or rent and hope the property increases in value over time and maybe sell later. He knows that if he does sell the building he would want to reinvest the money in another property or buy a house, but the market in SF right now is a little ridiculous, so we're sort of stuck. Any help would be appreciated!