Selling Rental Property in Need of Work
I have a older single family home. I purchased it as a starter home and lived in it for 8 years. I moved out in 2019 have been a land lord since that time. It has great cash flow as a rental, easily 1% value/month in rent. However, I have realized I do not like being a landlord. I have a demanding career, family life, and hobbies that do not include home improvement. As much as like good investments and diversification from only stock, bond investing I know I would be happier without this property. So I came to peace with selling. Now the question is:
*Post for sale by owner as is and hope other investors contact me that would be interested in doing the renovations them selves?
*Do rennovations then sell? By owner or through and agent?
The floors need work, it has older hardwood flooring that has several soft spots. There is no sub-floor and due to a leak they were exposed to a wet crawl space. If I tear out the floors I then decide whether to do a sub-floor then new lvp. If I go that route it may be hard to match the trim elevations.
The house also needs touch up paint. The shingles are pretty old but there are no active leaks.
Any thoughts or suggestions?
*Post for sale by owner as is and hope other investors contact me that would be interested in doing the renovations them selves?
*Do rennovations then sell? By owner or through and agent?
The floors need work, it has older hardwood flooring that has several soft spots. There is no sub-floor and due to a leak they were exposed to a wet crawl space. If I tear out the floors I then decide whether to do a sub-floor then new lvp. If I go that route it may be hard to match the trim elevations.
The house also needs touch up paint. The shingles are pretty old but there are no active leaks.
Any thoughts or suggestions?