Tips on selling Brooklyn Duplex

[Brandon Stanley]

Hello!

I am new to the BP community and real estate investing, so forgive me if some of these questions are quite basic or obvious. 

A family member and I recently inherited a duplex from 1899 in Brooklyn, NY. We are interested in selling the property and splitting the proceeds. The property is currently rented far below market value and in need of updating. We are not interested in doing the renovations ourselves and prefer to sell the property as is. At the very least, I think it needs two new kitchens and two new bathrooms. 

We would like some advice on how best to sell this home. Should the current tenants vacate the home prior to selling? Both tenants have been there for many years.

Should I work with a local realtor or am I better off marketing the home through a different platform? Does anybody have any Brooklyn based realtors they recommend?

Should I inform the tenants that the house will be sold in the near future? I am concerned that they may stop paying rent if they know they may have to move.

Should I ask the tenants if they know someone who is interested in purchasing the home? I don’t think either tenant are in a position to purchase the home.

Thanks in advance for your advice!