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Updated almost 10 years ago on . Most recent reply

User Stats

70
Posts
38
Votes
Dan Ward
  • Real Estate Investor
  • Cabot, AR
38
Votes |
70
Posts

Selling home after living in it for 1 year!!

Dan Ward
  • Real Estate Investor
  • Cabot, AR
Posted

So here is the situation, my wife and I purchased our home exactly one year ago and I recently accepted a job offer about 2 hours away. When we purchased the home we put 10k down and now we have realized that if we sell with a realtor.....we will be lucky to break even. Currently the houses in my neighborhood rent for $1200+ per month (booming area and college town).....so it seems like I would be better offer selling my home for a few thousand less than I paid for it to an investor by offering them a great property that would have a 10%+ cap rate, would be a better deal for both of us rather than pay 7% commission and closing costs on the property. What do you guys think? Could I spin this situation into an opportunity for someone wanting to get into rental property or no? 

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