I have some property to sell asap, but I need to get what I have in it, any ideas?

Question

I have 3 investment properties that haven't turned out to be so easy to sell. Any ideas on how to sell them asap, and get at least what I owe on them?

The problem is I owe the money to my parents and can't just take a big hit on the lose. I am pretty sure I got taken when I bought the properties from someone else and am now suffering the consequences! Thanks for all your advice.

Answer 1

The only info I can offer is to list them near the price that you need. If you are not using a broker or Realtor do so, this will target a much bigger population of potential buyers then if you are trying to sell it by yourself. Maybe work a deal to sell them together. Also if you are using a Realtor have them look up comparable properties and what they have sold for, and what prices they are listed at. If you are way above the market then you will not sell even though that is the price that you need, you can either cut your losses and sell for a lower price or play the waiting game for the right buyer to come along.

Answer 2

The market determines what you can and will get for these properties. Apparently you have tried thus far to sell at a certain price without success. If you have more invested that the current market will bear at sale, you either take the loss or hold on to the properties.

Right now the real estate market is a lot like being in the stock market. When the market goes down, so does your investment vehicle, which is in this case, your rental properties.

Answer 3

It depends on the market. What is the supply like? What are your average Days on Market?
Is renting an option?
How long have you owned them?

Basically, if you can't afford a realtor, you need to market the heck out of these properties like there is no tomorrow! Flyers, Videos, Internet Listings, Door to Door in Apartments complexes, postings everywhere you can, contact friends & family, etc.. Market the crap out of them.

If you are an investor & got the properties 20% below market value (as suggested by most investors), then you should be able to hire a realtor & get your cash back.

Check out the book: FLIP - use it as a guide in your future investments.
Here is a link.
http://www.amazon.com/dp/0071486100?tag=cruhogs-20&camp=0&creative=0&linkCode=as1&creativeASIN=0071486100&adid=0JBXHGHK3P1DRAXSX6FK&

Answer 4

Forget about what you owe on them, You cannot get a refund for what you paid, and nobody cares what you paid except you.
They are worth what they are worth.

You gambled when you bought them, and you lost.

Figure out a way to sell them now before they are worth less, or figure out a way to keep them if you want to.

It's the reality of getting involved with big money. Markets don't go up forever. We were in a bubble which has burst.
In some areas property will be going much, much lower.

Answer 5

You may want to offer holding a second mortgage, you may be able to attract more investors. We are always looking to reduce the amount of money out of pocket when buying rentals. Using creative financing investors are more willing pay the asking price or close to it. Offering a lease purchase may be an answer. Do your research with the lease purchase and create a win win situation. Hold steady and be patient the market will turn back in our favor. Don't let all these negative people bring you down.

Answer 6

If you could sell on a lease with option to buy, or a land contract you would probably get the price you are asking. Or take back a note and then resell the note.

Answer 7

I think we talked before. If you have to have cash now, you're gonna have to make them attractive to buyers (price and appearance).

My suggestion, if you don't have to have the cash right now, is to sell them with owner financing or rent-to-own. That way, your notes are covered every month (with a little cash flow if done properly) and with the R2O you can wait for the market to "come to you" with higher house values. If your market's already good, you could still turn a nice profit.

E-mail me if you'd like to discuss it further.

Answer 8

You can only get what they are worth to a buyer, buyers don't care what you owe. Maybe a cash back refi on one that isn't upside down to pay down one that is so you owe less when you sell it.

Answer 9

US nationwide Assoc. of Realtors survey unearths that the shoppers that are finding on line to locate their abode are extra knowledgeable. they are extra helpful qualified to make the acquisition. while they see what they like they are extra normally waiting and in a position to purchase the valuables while they call into the actual sources place of work. NAR (natl. ***. realtors) encourages brokers and brokers to furnish fullest interest to such callers and inquiries. those individuals are waiting, prepared and in a position to purchase. of course they'll use a actual sources agent to represent them with the aid of the transaction. case in point. I had a decision are available on a itemizing I had 2 counties remote from my place of work. the female asked some sensible questions and asked to work out the valuables. I advised her it replaced right into a lengthypersistent for me. I then asked her countless questions approximately her financing, skills, why did she like this sources? and flat out, did she think of she could purchase this and why. She responded all of my questions. I drove for 40 5 minutes to fulfill her and she or he offered it. We have been the two very happy with the outcomes.

Answer 10

Get a agent that specializing successful in those areas.