Question about selling an investment property.

5 Replies

I currently have an investment property that I have decided to sell. It is basically a turn key property with new HVAC, water heater, carpet and currently rented with a one year lease to a great tenant who wants to stay there. I have posted it on here and some other sites such as Craigslist and such but with no luck. I am not sure at this time what direction to go with getting it out there and trying to sell it to another investor or someone who wants an investment property. Just wondering if anyone out here has any ideas such as using a real estate agent or other ways to get the house out there to people  who are looking to buy. thanks in advance for any information.

Well, just to state the obvious, but if you list it with an agent you will get MLS exposure which is where almost every retail buyer will buy their home from. Do you think the house is more marketable to an owner occupant or to a landlord? Any chance you could sell it to current tenant on a rent to own arrangement?

Maybe you could post the information about the house again and some of the BP experts on KC could chime in and offer their input as to why it's not selling.  

Hello @John DeFoor

I saw your marketplace listing. Given the rent rate and the location in the tax abatement zone, you might want to talk to someone that can guide you on value. Understanding what area that you are referring to, the multipliers there favor a different price point, unless you can get it to retail condition. Even an MLS listing as a rental will produce similar results that you are receiving now.

How is it priced vs. comps?  SFRs are always valued by comps.

The MLS will produce the most potential buyers, but many will be retail buyers who want to occupy the house. Nevertheless, that's your best route to the most buyers.

I may be a little biased but listing it with a Realtor is going to be by far your best shot at selling it. Your exposure will significantly increase from where you're at now. However, like it was mentioned before, most people will want to occupy the property rather than buy it as an investment. If you can, I would highly recommend waiting to list the property till after the tenants move out. It will make selling the property a lot easier and you may very likely get more money for it. If you need to sell it right away, it can't hurt to list it under the income property section of the MLS with a Realtor and see if you get any bites.