Skip to content
General Landlording & Rental Properties

User Stats

62
Posts
216
Votes
JR C.
  • Knoxville, TN
216
Votes |
62
Posts

Thinking of selling properties and retiring

JR C.
  • Knoxville, TN
Posted Jul 24 2014, 18:02
I know now is not the best time to liquidate properties but I have been thinking I want to take that step. Now the question arises on how to go about it. Let me know what you all think. 1) Sell all properties (six condo's) as a package? This would be hard to do in my opinion. It would probably require a cash buyer. I need to net $500K and that is a large amount of cash for an investor to come up with. I understand banks do not offer blanket loans anymore for multiple properties. I can show on paper a 9% real return after all taxes, HOA fees, insurance, ect. Properties are paid for free and clear. 2) Sell them individually with the renters in place? I see this as most practical. The only factor is the time involved. I would much rather be a blanket deal. 3) Lease Purchase? I like the idea of a bigger price and larger monthly rents until the option is exercised but the new Frank Dodd regulations may hinder that. What is your opinion on the easiest and most efficient exit strategy? Any other ideas/comments/advise? Thanks a million.

Loading replies...