Updated almost 7 years ago on . Most recent reply
How Do I Sell These Properties?
A few months back, my partner and I bought two properties at an online auction after having success with our first property that we flipped. These two houses are hard sells because they’ve had fire damage to them which we were not aware of at the time of purchasing them. On top of that, they deep within two separate “war zones”. I’m not opposed to buying properties in bad areas at all because I have made money doing this so far. Maybe it was out of luck that we were successful with the first one, but I definitely learned my lesson when it comes down to not doing my due diligence. When doing our first deal, we were on top of our due diligence game and it paid out tenfold. When we didn’t do our due diligence, we paid greatly for it. I’m going to recognize this as a hard lesson learned and use it to grow my real estate investing expertise from.
My question is really, what do I do with these properties now? I’ve been marketing them as I usually do on Craigslist, FB Marketplace, eBay everyday. There seems to be promise from a multitude of leads and then people lose interest with the properties. I’ve reduced the price greatly and offer seller financing for anyone looking to invest in the property at a discount. Does anyone else have any ideas of how I can get rid of these properties? I just want cut ties with these investments and move on to bigger and better things. Thanks guys and gals for your time!
Most Popular Reply
@Alex Rodolitz Have you considered putting them on MLS? You'll get a LOT more exposure that way.
As an alternative, look at whether doing a demo and rebuild with a modular home would work. Even in the hood, people need a place to live.