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Updated almost 3 years ago,

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2
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William Bennett
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2
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Selling Condo with Seller Financing

William Bennett
Posted

Hi All, a year ago I purchased two condos from a wholesaler all-cash in a 24-unit condo building in TN. It seemed like a good cash-on-cash so I purchased it without doing my homework. It turns out investors own 21 of the 24 units and two of the investors own around 25% of the units each. I'm inclined to sell my two units given I prefer small multifamily where you have control over the property. Any advice for maximizing value on a sale in a condo building where retail investors won't qualify for a conventional mortgage? I was considering offering it on the MLS with 90% seller financing since I thought that might result in a price twice as high as what investors would pay me for the units all-cash. Any advice to maximize value would be appreciated.

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