for sale or for rent?

2 Replies

A friend owns a house in the Wilmington, NC area about 3 miles from the beach. He would like to sell but had some good, low management tenants in there so he was fine with that. They informed him they would be moving out however. He asked if I felt that putting the home up for rent AND for sale at the same time would make them look more motivated/desparate as sellers. I told him that I feel it would not because it shows people that they are not in a situation where the house MUST be sold, and therefore have the luxury of renting or selling if the price is right. I havent seen it but it sounds like a nice neighborhood with the sale price being in the 425,000 range. Just hoping to get some other viewpoints to pass on.

I would agree with you in that I don't think putting the home for sale and for rent makes it look like the seller is desparate. Though if your friend is not someone who would call themselves a professional landlord, I may suggest that they just sell it before they accidentally rent to some really bad tenants.

Colin Smith, Real Estate Agent in CO (#ER.100052152)
719-232-6709

Thanks. I'll definitely tell him to do his homework on screening tenants. I'm pretty sure he's only willing to rent to someone good as he's 4 hours away and realizes he can only take on an A1 tenant. I think the price point helps out there too.

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

Lock We hate spam just as much as you

Join the Largest Real Estate Investing Community

Basic membership is free, forever.