Any Pointers on Selling an Investment Property w/ Tenant
I own an investment property in Virginia. I purchased it in 2005. It's been a great investment. It's about 3,300 square feet. Current market value is between $330,000 and $350,000 or so. It rents for $1,900 per month. I pay an 8% management fee ($152/month) to Dodson Property Management, based out of Richmond, VA. Dodson has been a fantastic MGMT company to work with.
The lease ends in April 2021. Tenants seem to like living there and also keep the house in good condition. Never had a late payment from them.
My question here is if anyone has tried to sell an investment property in the middle of a lease? I have another investment property that I'm interested in and I'd like to use the equity from this property, after sale, to purchase another property. I'm thinking of offering the property to the tenants but I just want to be aware of any issues as I've never tried to sell any of my investment properties while they're leased.
Just looking for any guidance or tips. Appreciate your time.
Bryan