Updated 8 days ago on . Most recent reply
Looking to exit property
Need some advice on exiting a property at full valuation, or if anyone is interested.
Scenario:
Quad 100% Occupied, owned since 2016 occupancy rate ~95%. Monthly rent roll of 5065.
The property receives a lower valuation as when originally purchased the previous owner agreed to replat into one parcel this was to aid in securing financing. As I am looking to exit the property my mortgage holder will not allow me to replat the properties to individual lots. Lenders have been hesitant to refinance with this provision. A proper valuation should be 680k, current valuation due to suitable comps ( the rest of the neighborhood's quads are all individually platted) is around 500k. As part of the exit with a buyer I am willing to some equity on the table. From a financing perspective there is an assumable mortgage at 3.875% with ~190k.
Any advice for a nonconventional exit (as a conventional exit leaves too much equity on the table) or interest is welcomed.