Investor · Flagstaff Arizona · Member since 2014 · 38 posts · 7 votes
I have a turnkey property. It is renting for $1000 a month with a property management company in place, taking their 10%. The property retails for well into the 150's .
I want to sell it as a turnkey, what kind of offers can I expect? Located in Birmingham Alabama.
Ultimately, It all depends on location. There's places in my states capital where the homes are 250 and the rents are $800 due to crime, drugs, and other miscellaneous problems. And, those homes been on the market for years for that very reason. Its all about location! Good luck
It certainly is not worth $150k to an investor if it rents for $1,000-1,200/mo. in B'ham, or in most any place. If it's really worth that to a home owner, empty it out, fix it up, sell it.
When I'm looking at properties for investors, the first thing I consider is the potential income vs the list price. If I saw a list price of $150K with a rental income of $12K a year, I would immediately move on.
And by the way, that's not a rap on your house since I know nothing about it. This could be a situation where the rents aren't keeping up with rising property values, or perhaps you're not renting the house at current market value.