Hi, newbie here.
I was wondering if anyone here has any experience locating and selling the retail (rehabbed) properties to Investors or buyers.
With the market slowing down I think this can be a great strategy to move the houses quickly. I’ve considered taking an ad out in the classifieds to try to build a list of investors who do not want the hassle of a rehab but are looking to build their portfolio of REO.
Also, do you have any suggestions to locate renters for the lease options?
Thanks.
make any sense?
I guess I’m trying to see if there are easier ways than just the regular listing the home on the MLS and crossing my fingers.
Would an investor want a newly rehabbed home as long as it might be cash flowing?
If I understand correctly it sounds like you want to put a lease-option tenant into a property and sell it to an investor. I think that is a pretty good strategy as long as you do a good job screening the tenants.
The investor then gets a property with an option fee that goes to them when they close. The other good thing about that strategy is that you are getting income until you find a buyer.
If you visit you local REI clubs you will be able to network and find investors who are “buy and hold” and looking for more properties.
Sounds like you are getting what I am saying…
How much below value do you think I am going to have to deal a rental to an investor…I know they probably are not gonna want to buy it at retail.
It’s hard to say since it will depend on the rental numbers and where the property is located. I know if you can shoot to sell at 80% of retail you will probably be okay, but so much depends on area and potential appreciation, etc.