real estate investment: Selling With a Tenant Part 3
- 01/18/12 05:40 AM
In the 3rd part of my series on selling real estate with a tenant, let’s look at larger multi unit properties – those with 4 or more units. Once you have a property with more than 3 apartments, you are solidly in the land of investors. Owner occupants aren’t interested (and usually can’t afford) to buy larger multi unit properties. Banks will require a higher down payment as well. 25% of the purchase price is normally the minimum.
As far as your tenants, as long as they pay market rent and keep their apartments in reasonable condition, an investor will be (0 comments)
real estate investment: Selling With a Tenant Part 2
- 01/18/12 05:38 AM
We’ve already gone over how to sell a condo with a tenant. Today let’s discuss how to sell a multi family home with a tenant.
If you own a 2 or 3 family home you’ll want to look at who the most likely buyer will be:
If your property is in great shape and has been extensively updated, your most likely buyer will be an owner occupant.
If your property needs some updating (and you price the house to reflect this) or you are willing to price it a little bit below the market value then you open up the (0 comments)
real estate investment: Selling With a Tenant - Part 1
- 01/18/12 05:34 AM
Selling a piece of real estate in most markets can be a challenge. When you are selling a property that has a tenant or tenants in it, it adds another layer of complexity to the sale. Over the next few weeks, I’ll discuss different tenant scenarios. Today let’s assume that you own a condo that is currently rented out. You’ve decided to sell the condo. In today’s real estate market, investors aren’t interested in buying single unit condos so your prospective buyer is an owner-occupant (bank speak for someone who will live in the condo).
When a buyer is buying your (3 comments)
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