First multi unit sale - Sell vacant or Tenant?
Hi Guys!
I recently flipped a property that has 4 houses on over 1 acre of land. It is here in Kansas City about a mile from the football and baseball stadiums, (Royals and Chiefs). We planned to renovate them and then run them as Airbnb's. They are small houses, but perfect for a weekend in town with brand new everything inside and out. (Would sleep up to 20 between the 4 houses)
However, we ended up putting too much money into the properties with unexpected electrical, plumbing and roofing needs. We no longer can cash out refinance to keep them as part of the BRRR method. We aren't upside down but definitely not at 70-75% to manage to hold them. I have never sold multiple units and was curious what an investor is looking for. It is technically a single family home so would you list with a residential agent or sell on your own to network of investors?
If an investor were to buy 4 houses on 1 acre, would another investor be more interested in having it turnkey with tenants in place so I can show them rental income or sell it vacant with an idea of what it could rent or airbnb for? What information would be good know to put on a flyer?
Thanks!