Fort Worth, TX · Member since 2013 · 11 posts · 0 votes
Hey everyone I have some motivated sellers,and they are retiring. They want to sell their rental property it is a duplex,and I do not even know how to structure it. I also do not know how to find a buyer looking to purchase a rental property,and also it is fully occupied at the moment. I really need insight on this topic,because I did not find any other thread. They are asking 105k and I can offer 40k but that is for a fx and flip deal. I really need some help on this one. Thank you and have a nice day.
@J Scott Yes i was looking for buyers,and also ways to determine my offer to the seller.
If your buyers are going to be landlords, you need to determine what the typical criteria for landlords in that area, and then be able to buy the property cheap enough that you can resell to landlords based on that criteria.
For example, if most landlords in that area are looking for deals that will generate 10% cash-on-cash returns, you need to buy the property for a price that will allow you to sell to a landlord at a price where he can make his 10% return (with enough left over for your fee).
Without knowing what your buyers are looking for, it's impossible to know what the right price for you to buy is (and therefore how much to offer the seller).
Are you looking for buy-and-hold investors to buy the property? Try calling For Rent signs, put ads on Craigslist, put up bandit signs, visit your local REIA, put an ad in the BP Marketplace, etc. There are lots of ways to find buyers.
If you are completely in the dark you may want to consider partnering with someone in your are with a little more experience who can help walk you through it. Sacrifice some profit in exchange for knowledge.
@J Scott Yes i was looking for buyers,and also ways to determine my offer to the seller.
If your buyers are going to be landlords, you need to determine what the typical criteria for landlords in that area, and then be able to buy the property cheap enough that you can resell to landlords based on that criteria.
For example, if most landlords in that area are looking for deals that will generate 10% cash-on-cash returns, you need to buy the property for a price that will allow you to sell to a landlord at a price where he can make his 10% return (with enough left over for your fee).
Without knowing what your buyers are looking for, it's impossible to know what the right price for you to buy is (and therefore how much to offer the seller).
@J Scott Yes it does,so I need to find a buy and hold investor in the area. Ok I will go looking at some for rent signs,and then find out what they are looking for. I really needed to know this so thank you for your help!