Turnkey in Cleveland during Covid 19 should I keep or ...
Hello fellow investors!
"to sell or not to sell? this is the question."
I have 4 SFH at the moment 3 turnkeys in Cleveland (west side) and one property for retail in Euclid.
turnkeys are around 70k each and Euclid house around $110 k all after full rehab .
should I try to market them right now or hold them for a while and wait till i can get a full price?
in other words , is the potential cut in price worth it in order to be ready with cash to look for great deals in the next few weeks months? ?
two notes:
1 I am a cash buyer only.
2 I have time - I am not in a position i have to sell now.
3 the sale is done by a local partner, usually for out of town investors .
would love to hear your opinion particularly from active investors in the Cleveland market
Thanks so much!!
Itay
would love to hear your opinion particularly from active investors in the Cleveland market
Most Popular Reply
@Itay Heled depending on where your west side houses are located you may want to think about marketing them to retail buyers rather than investors. I’ve had 3 single family listings recently that if marketed to investors would have been $65K-$75K, instead the seller did some updates and we were able to sell to owner occupants at between $90k-$110k - all within a week. There are still a lot of buyers out there as is evidenced by all the pending and contingent sales and that should hold due to interest rates continuing to remain low.