Update on Out-of-State Properties For Sale

[Arron Paulino]

I had to remove four of my out-of-state properties in order to refresh the listings and start anew. I will be lowering the asking price and seeing if that will help in the sale of these properties. Looking to either sell individually or as a package to an investor. These are 2-bedroom, 1-bathroom properties that I had originally planned to keep in my rental portfolio, but my plans changed. My current agent suggested if it made sense financially, to do some rehab work to get the properties rent-ready, but I do not have the liquid funds to do so and sell these as-is. I do have monthly mortgages to be paid and not having rental income to offset my negative cash flow has been a learning experience and really trying to think of what options I have to have better success at this. Some interested buyers did go under contract but things fell through in the deals. We've noticed 3/1's have had more success as that is what investors are looking for and hindering my chances at a sale. Really looking for tips on what to do from investors who have been in this type of situation. Currently just waiting it out and hoping for the best to start the year so I can move on and dive into better opportunities.

[Arron Paulino]

Quote from @Jamie Parker:

Quote from @Arron Paulino:

I had to remove four of my out-of-state properties in order to refresh the listings and start anew. I will be lowering the asking price and seeing if that will help in the sale of these properties. Looking to either sell individually or as a package to an investor. These are 2-bedroom, 1-bathroom properties that I had originally planned to keep in my rental portfolio, but my plans changed. My current agent suggested if it made sense financially, to do some rehab work to get the properties rent-ready, but I do not have the liquid funds to do so and sell these as-is. I do have monthly mortgages to be paid and not having rental income to offset my negative cash flow has been a learning experience and really trying to think of what options I have to have better success at this. Some interested buyers did go under contract but things fell through in the deals. We've noticed 3/1's have had more success as that is what investors are looking for and hindering my chances at a sale. Really looking for tips on what to do from investors who have been in this type of situation. Currently just waiting it out and hoping for the best to start the year so I can move on and dive into better opportunities.

 I am in Memphis, I would be curious to know more about the properties. I will say I am a wholesaler however I work remotely in the nashville market. I own a couple vacant lots and looking to purchase more in a small area. 2/1s in Memphis, as far as I know, are as desirable as in a bigger market. While 2/2s are better 3/1 are more desirable because of the heavy section market in the city. Sounds like you are in a tight spot. If there is anything I could do (drive by, analysis/insight on the area) I would be glad to help.

 I'll send you a DM on these properties and see what you think.