Updated about 12 years ago on . Most recent reply
How to go about our first sale.
Hello form Utah,
Currently we rent my fiances house out to my renters that I had previously rented my basement out to (family of 5). Going on 3 years and have had 2 calls. Great tenants. But we very much are ready to grow a life style in realestate and keep our day jobs. The lease is up in june and want to sale this property to have some capital to start. Were considering offering the house to the current tenants first but are skeptical on their ability to finance the house. My question is, Should I offer the house now so they have time to build credit or just wait a few more months? This is 9 months away. The market could change quite a bit by then. I would prefer them to move after the lease is up so I can rehab the house and turn a better profit but selling to them would be quicker. What do you think? Thanks in advance. House details; 4 bed 2 bath. As is value $159000 ARV $184000. Estamated repairs $12000. My girl had lived there long enough so no capital gains are involved. Potential profit after repairs value $54000