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Updated almost 11 years ago on . Most recent reply

Exit Strategy for a 1br duplex
Hey all, I was approached last night about a seller financing deal for a 1/1 duplex in Madison, WI. At this point I don't have the details to actually analyze the deal, but was hoping to get advice on exit strategies for a property like this. Being new and not knowing the Madison market well, I could use the guidance.
It seems to me that being a 1/1 duplex, if I ever needed/wanted to sell, I might have a very hard time.
What I do know (And this is off the rental flyer that was passed on to me):
Rent: 865/mo/unit
Updated/Clean Property - from the pictures it looks newly renovated or well kept.
Large living room
hardwood floors throughout, ceramic in kitchen.
Off street parking
Neighborhood Park Nearby
Location: Near East High School
Again, I haven't talked numbers whatsoever since time didn't permit, but before I call to get more info, I'd like to get a good idea of an exit strategy.
Most Popular Reply

Are you looking at a buy-and-hold? If the property has decent cashflow then it shouldn't be too much of a stretch to imagine selling it to another investor at some point in the future. I could see an owner-occupant being interested if they were a single person. I don't know Madison very well (although I have a cousin that lives there) so I don't know if this is anywhere near the University. That would be a big plus. Near a high school doesn't really matter with 1 bds as the tenants will be singles or couples. So if it's really not an area that attracts singles/couples I might pass... but of course it all depends on what you could get it for. Isn't Madison pretty pricey?