Hey folks, I'm a software entrepreneur and am trying to focus my resources on a new startup venture. Selling to an investor is interesting since I imagine it'd take less time on my end. Not really in a place to try to 100% optimize for my profit.
Looking to sell my townhome in Countryside - Sterling, VA within the next few months. It's 3 bd/3 ba with a good family renting (within 3rd year of lease). I've continued their "covid" rate for the most part. They're paying $2k per month.
More on the opportunity: I would guess that it can rent for $2300/mo. It's also a good house hack option. When me and my wife lived there in 2019, we rented the basement for $1100 since it has a kitchenette, full size fridge, 1bd, 1ba, and private walkout.
What's the market temp right now in our area? Are people interested in purchasing rentals still?
Real Estate Agent · Ashburn, VA · Member since 2016 · 107 posts · 31 votes
3y
@Kevin Galang Hey Kevin! I’m a local agent in Loudoun and the market will likely heat up more in mid January. People are always interested in investing, but with current interest rates it might be difficult for people to cashflow. If you’re open to creative financing or if your tenants are able to find another place to go you’ll have an easier time.
Feel free to reach out to me if you’d like more info!
@Nick Thomas Thanks for the insights! I plan to give the tenant a heads up today that I'll be putting it on the market in Jan/Feb so hopefully that all goes over well and they'll have enough time to find another place.
@Karim Z. It's not ready to be shown right now. I'll work with the tenants to show it in January. Here are the pictures of it from when we first renovated in 2019. https://www.zillow.com/homes/3...
Real Estate Agent · Reston, VA · Member since 2020 · 84 posts · 53 votes
3y
Hey Kevin,
You probably don't remember me, but I used to play basketball with James every day almost haha
Anyway, I have clients who are investors who would love to see it once it is ready. One couple in particular is moving in from California at the end of January/beginning of February. Also, Have you brought up that you'd like to sell to your tenants? If you are looking for the lowest friction in selling, selling it to the people who already live there is usually the easiest.
I'd be happy to go over all of your options and what makes the most sense for you.