New York, NY · Member since 2014 · 43 posts · 11 votes
Hi all,
I am looking to sell one of the properties in my portfolio. I was wondering if anyone could recommend a good whole seller in the Lehigh Valley Area. Also, any suggestions on sales channels are welcome.
Hi @James Zhang. @David Ribardo provided some great advice. You are better going the FSBO or the real estate agent channel before the wholesaler route.
Some general info on sales channels. You will get the most money by listing with an agent, and selling it to an owner-occupant. It's a great time to be selling, as there is not a lot of inventory on the market and demand is high. A well priced unit will get multiple offers its first weekend on the market.
Next would probably be a for sale by owner, which if you know what you are doing, can save you the listing agent's commission, and sometimes even both commissions, making it more profitable. On the flip side, I just closed on one of them that turned into a nightmare. The sellers thought they knew everything about real estate, and their stubbornness almost caused the deal to fall through several times. I only recommend this route after you have done a few sales.
Following that, I'd list it on the MLS as a investment property. Investors need to make their profit, so they generally will offer less on the same property than an owner-occupant.
Selling it to a wholesaler will be your least profitable route. They will give you a price that allows them to make their profit, AND an investor to make their. However, there are times when the convenience of this route is worth it, such as if you need quick cash to close on your next deal.
Hi @James Zhang. @David Ribardo provided some great advice. You are better going the FSBO or the real estate agent channel before the wholesaler route.