Rental Property Investor · Oklahoma City, OK · Member since 2013 · 1k+ posts · 412 votes
There are worse problems to have, but we have ended up with more homes than we intended to, and it's the perfect opportunity to cull the herd.
I have a specific property in mind. It's a class B in an okay neighborhood, new roof, new foundation work, fresh paint, but nothing fancy. This is how I see my choices:
1) List it with a trusted broker, pay more costs, skip the aggravation, walk away.
2) Sell private treaty, maybe even with a wholesaler, take it to the REIA, post on Bigger Pockets etc. More aggravation less cost.
3) Sell with owner financing. Maintain the revenue stream, skip the short-term aggravation, but still somewhat close to a rental which is what I'm trying to get away from. Also a concern that a non-performing buyer will allow the house to deteriorate.
Investor · Sherman Oaks, CA · Member since 2008 · 6k+ posts · 3k+ votes
12y
Remember you have terms to an Investor buyer, no Dodd frank, vs on terms to an OO terms buyer, yes Dodd Frank.
I'd find an Investor buyer, carry paper, and make sure they want a rental, get an affidafit from Investor that they are buying for a rental investment property and Dodd Frank need not apply.