All Forum Posts by: Suddha Talukdar

Quote from @Edward Dean:

Price is the strongest driver. That said, talk to your realtor about what the feedback has been though as well. Are you getting showings but no offers? No or very few showings? What does he/she think the problem is? Is there a smell or loud neighborhood noise or some obvious flaw that doesn't show in the pictures that she keeps hearing as feedback? Or are you still well within what the average days on market are for a property like this in your area? If it usually takes 90 days or something like that to sell a house at this price point in your area then you might be right on track at only days on market. Either way, try to look at the home through a buyer's eyes to see if you notice anything you can do to make it show its best.

A few things you can do to boost the property online are have 3D walk-throughs and video of the property. These are things that realtors in my area generally pay for out of their pocket but it may be different where you are. They can also hold open houses and pitch the property at broker caravans. See where else and how your realtor is advertising it. At the end of the day though price is almost always the main driver. If it has to go now then a decent price reduction will probably do the trick. I would not hock it to a wholesaler though unless you are desperate since you'll very likely get more from a traditional buyer.

Best of luck!

We got a steady set of showings but no offers. Two offers came in at when I finally v moved price to 645 ,… but at a much lower offer of 600. So I agree my realtor didn’t do a good job to understand the v moving market and adjust. I don’t want to wait too long either but not sell for too low - just looking for a balance. I think finding the right realtor is key for selling - I am looking for one. Any C recommendations?

Thanks Alex - agree not to rush and not trying for home run and top dollars either. I am loosing 3k + I’m rent per month - so it’s a loss but I also don’t want to wait forever. So it’s a matter of finding the middle ground and knowing real market value of property - didn’t realize selling a home would be so painful - buying seems a lot easier. Any recommendations for a good realtor in this Beaverton area who understands the market would be appreciated

Yes David I don’t think my realtor priced it right and over priced and didn’t move fast enough when the market slowed in August. Similar sized homes in the exact same neighborhood is selling within 2-3 weeks. Being a rental for last 5 years might have lost some value but in the end I agree the price was not right. I actually took down the listing and parted ways w the realtor. 
It is marketed as a home for families and not for investment. 

I like your idea of waiting for a few weeks, interview some more realtors and then try the market again. I just don’t know what the true value should be - am getting 2 lowball offers of 600l when Redfin /Zillow is showing 644-655.
how do I find a good aggressive realtor who can get the right price for the market to sell within a month?




 

I did - we lowered twice from 695K to 675K and now to 645K which matches what Redfin is showing. 

21639 SW Susan Lane. Beaverton OR 97003 is the property address

I had listed my rental property in Beaverton, OR on Jul 22, 2023. It was my primary home converted to rental about 5 years ago. Plan is to sell and use 1031 exchange and invest in single or multi family in other cash flowing properties. 
I think it was listed at the top end of the market and when interest rates rose in August my agent didn’t react and reduce price. I did the math and ran numbers - using 1031 exchange and the 2x rule, my overall cash flow will be atleast double (since the house is almost paid off). It’s been 2 months now and still not sold- what should I do?

1) use whole seller at a substantial lower price but guaranteed to get cash out quickly

2) rent house again in a one year lease and use a second mortgage to take out equity on the house

3) find a different agent who is willing to be more aggressive to get an offer ASAP

any thoughts or ideas would be appreciated.

Suddha

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $395,650
Cash invested: $39,480

Converted primary home to rental property in 2007 when we moved out to a newer house

What made you interested in investing in this type of deal?

Expand the rental portfolio (second home)

@Ryan Thomson,  a colleague from work formed a small group of like-minded engineers, all working in similar tech companies and introduced us to the world of cash flowing properties out of state. Some of the members already had local properties, and some who never invested in real estate before. He walked us through six weeks of materials, while helping us buy our first property. It was a great learning experience and introduced us to a whole new world that was hidden from us. 

I have been investing in real estate for sometime now and have 2 rentals locally in Portland area. Recently joined a team of like minded ‘cashflow engineers’ to invest in turnkey properties in Southwest USA and heard about this website for a ton of knowledge sharing and ideas.

Suddha