Advice on selling my off market SFR with tenant in place??

Question

Hello BP Mates!! I'm thinking about selling my SFR with a tenant currently in place, off the market and would like advice on if I should wait until tenant moves out, make some minor upgrades and list it or try to sell to an investor at a discount since I will not need an agent and keep it off market. Thanks in advance for any input fellow investors. Cheers

Jared Elms · Answer

@Kerlous Tadres Very well said Kerlous I appreciate the solid advice. I will try to sell with tenant in place and hopefully move on to another adventure.

Jared Elms · Answer

@Rick Albert that is solid advice Rick and i appreciate it. I will definitely be trying to cater to the investors. Thanks again.

Gladimir Lobo · Answer

FSBO is four letter word for sellers. Ten years ago, about 10% of homes sold were sold by FSBOs. The number has been declining and has dropped to 6% according to NAR. Partly because FSBOs rely heavily on open houses to sell their homes. Open house is great tool for realtors to market themselves and earn new clients but is death trap for FSBOs. They get bombarded by realtors, wholesalers/investors and looky-loos. If the home tenanted, they may even lose the tenants. We sell tenanted properties all year long with little to no interruption of the tenants. There are better ways.

Rick Albert · Answer

Whenever you do FSBO, it's generally two types of contacts that will reach out. The first are Realtors trying to get your business. The second are investors who want it at a discount. There have been numerous studies that have shown that FSBO homes sell for much less than if they paid an agent. And I'm unbiased here because I'm not an agent in your market.

With that said, it doesn't really matter if the tenant leaves or not. Either way an investor is likely to buy it.

Jared Elms · Answer

@Gladimir Lobo Thanks for the response. I'm interested in hearing more about the process and fees etc..

Gladimir Lobo · Answer

Jared, Selling tenanted properties are right up our alley.

Many investors find themselves in situations like yours, where they need cash fast. We facilitate the transfer/sale of these properties to our network of investors. We just did one in Garfield with a long-term tenant. The owner did not want to disturb the tenant and deal with POS process. His price was reasonable, and we were able to get him a check promptly.

Jared Elms · Answer

@Kate Sanchez Thanks for the info Kate I will definitely go that route.

Eric Blair · Answer

I'm in the Montgomery area if you wish to DM me. I'm a new investor but I'd love to have the details on what you are wishing to unload. Thanks!

Jared Elms · Answer

@Leo Tahmasian, I would for sure like to connect. I am interested in hearing about the deals you worked on. Thanks for reaching out.

Jared Elms · Answer

@Kate Sanchez thanks for the response, I haven't explored any investor networks besides reaching out on BP to get advice. What networks would you suggest?