Selling block of properties

[Mayer M.]

Hi BP peeps! 

Looking for some advice. I am exploring selling a group of 25 rental properties conveniently located in a single well maintained condo complex comprised of a total of 200 units in South Jersey. All units are 2bd/1bth and 2br, 2bth and in great shape. The NOI is approximately $232k. What do you thing about trying to sell this group of properties privately? What should I try to get for it?

Thanks!

[Jay Hinrichs]

@Anthony Dooley  do you think he should as each tenant leaves set them up and sell them retail.

this is a pretty wide question and unless we know retail / VS  rental  values..  its impossible to really answer

I do know clients of mine that are selling in blocks like this usually take a pretty heavy discount.. as the buyer pool is significantly shrunk.. and its all about cap rate or rate of return then a discount for that.

Its not like trying to selling an apartment complex... I think that is one thing that folks that stack up rentals SFR's don't realize until they try to sell..

One of my clients has a 60 prop deal going now.. and it started in Aug... and its been major work compared to selling a MF deal..   just saying..