Investor · Irvine, CA · Member since 2016 · 18 posts · 3 votes
Hello BP,
I am looking at selling off some of my SFHs in Las Vegas (price range $145K-$210K). I wanted to hear from others whether you think it will make a big difference (number of buyers) whether the homes are tenant occupied or not.
I'm asking well aware of that there were many more investors looking at Las Vegas some 4 years ago than there are today. However, perhaps some of you (real estate agents, investors) in Las Vegas have intimate knowledge about whether it will hurt me a lot (smaller buyer pool) if some of my homes are tenant occupied at the time of sale.
Real Estate Investor · Las Vegas, NV · Member since 2016 · 399 posts · 260 votes
9y
Hi Elinar, I've always found that tenant occupied properties are a pain in the *** to sell unless the rents are good enough for a healthy cash flow. Also, I always think sellers leave so much money on the table when their properties aren't freshened up for the end buyer. First thing I would do would be to run comps and then after that offer it to the renters in there right now. Just a thought. Let me know if you need any help. Good luck
Real Estate Investor · Las Vegas, NV · Member since 2016 · 399 posts · 260 votes
9y
Hi Elinar, I've always found that tenant occupied properties are a pain in the *** to sell unless the rents are good enough for a healthy cash flow. Also, I always think sellers leave so much money on the table when their properties aren't freshened up for the end buyer. First thing I would do would be to run comps and then after that offer it to the renters in there right now. Just a thought. Let me know if you need any help. Good luck
Real Estate Agent · Henderson, NV · Member since 2011 · 1k+ posts · 550 votes
9y
@Einar Mykletun Like Omar mentioned, it will depend on the numbers. However, there are a few other things to consider as well. If the tenants have great payment history and the property is well maintained, it may not be that difficult to sell to an investor. On the other hand, if the buyer has to inherit sub par tenants and a bunch of deferred maintenance, then you may take a hair cut on your proceeds. Finally, it may be a good idea to approach the tenants about buying the property depending upon their credit and situation. Then you could save on commissions and time.
Investor · Irvine, CA · Member since 2016 · 18 posts · 3 votes
9y
Thank you all for your replies, advice and suggestions.
I'm also getting in touch with a few companies re the possibility of selling off my entire portfolio (7 properties) in bulk. Will at least want to compare their bids with what I'm estimating if I were to sell them individually.
Real Estate Agent · Henderson, NV · Member since 2011 · 1k+ posts · 550 votes
9y
@Einar Mykletun Good idea. There may still be some hedge funds buying. Depending upon the terms, there may be interest from some smaller investors for the bulk package too.