Sell first or rent and sell

[R DeMeritt]

I have a 2 Bed 2 Bath condo that I purchased at auction and intended to flip. However, the condo market is very soft, and it's way past my 45 day rule of ownership. I'm prepared to sell it at the low end of the marke pricet to just make it go away, even though it's now completely rehabed.

My question is would it be more attractive to sell it with renters or without renters? 16 like kind units in the same community have sold over the last 6 months ranging from 70 - 80K. I'll be selling at the 70K mark (maybe less), and have renters lined up at $895 per month. Just because you'll ask... HOA's are $240 per month.

My realtor said this property would easily sell for 100 to 110K, which is why I bought it, and is also why she's no longer my realtor. Well, that and several other reasons.

If renting it out makes it more attractive then I'll rent it out today, if not, I'll leave it vacant. Just want some advice on which is the better way to go with this property.

[Jon Holdman]

If you put a tenant in place then you limit your target buyers to investors. If its vacant, either an investor or an owner-occupant might buy. If you can get a look at those recent sales, they might give you a clue. If most are going to OO's, I'd leave it empty. If most are being bought by investors, having a tenant might help.