Updated over 5 years ago on . Most recent reply
Selling an occupied rental
I have a rental "by default" (it was my primary residence but d/t the economy I held it when I moved)... Anyway, it is not a great rental but does have a fair bit of equity built up... The same renters have been in the house for a few years, but are currently month-to-month. Not the greatest renters, so I'm considering all my options... What are my options??? What are the ramifications to a purchaser of an occupied property? It is going to need some sprucing up... would I be better off encouraging the renters to find another place to live (they owe me some money I'd write off if they leave). Thoughts?
Most Popular Reply
Exactly what @Tracy Streich said if you want to sell.
After renovating the property you could also keep it as a rental by renting it to a different tenant, cash out refinance, and then invest that money into another property. But from what I understand the Denver market has been especially hot so you could probably sell it for a premium.