Selling to re-invest capital in a better position.
Hey all,
I have been lurking for the past 2 months on BP, the opportunities the current market present spurred me onto to some more in depth investigations regarding REI.
My wife and I have an unencumbered SFR rented in Boston (a silver lining to a tragic event) at a cash on cash position of 3%, I envision many members having heart attacks! Originally I was just going to pull equity out of the house, but COC of 3% isn't a good position anyway you look at it. So we have decided to sell.
The issue is, the tenants are wonderful, dream tenants. What is the process? Let them know we are listing it, get the house appraised, and list? We don't want to inconvenience them too much since they have made life easier for us. Sorry for the seemingly straight forward noob question; we've never dealt with selling rental property.
Also, are there any BPer's in Boston who can give a heads up on how the standard sale FSBO market is in Boston? Wakefield to be precise.
I'm enjoying the information on BP immensely, I'm sure it will prove helpful when we re-invest this capital once we have sold the house.
Andrew