All Forum Posts by: Tyesha Neal

Hello everyone, I really need insight on the sale of my rental property.

The house was built in 2010. I purchased the house in 2017 for 108k. There is 95k left on the mortgage. I've had the same tenant since 2018 who is section 8 and now on a month to month lease. I am now in anesthesia school and looking to sell because I can no longer manage being a landlord and I need the money for school.

In May, the same model home in my neighborhood sold for 225k. The comp house did not have granite or LifeProof floors like mine. I wanted to sell to an investor for quick cash, but so far offers are coming in between 110-160k with the possibility of lowering the offer depending on inspection. I really don't have the time or resources to wait on my tenant to move and to "fix up" the house, but I really feel like I am being bamboozled into selling the house waaaaay below market value to investors. Should I move forward with selling on the open market? Am I leaving too much equity on the table? 

Thanks