Need advice on selling rental properties out of state.

[Brian Scott]

I have a couple of properties in Memphis, TN that I want to sell. I heard through my property manager that some investors have had some success advertising through Craiglist. They list them as turn-key real estate investments. I've been thinking of doing this myself, but have never sold a home this way before. What I need help with is...

1. Is this the best way to go or should I use a real estate agent?

2. If I did go this route, would I need to get an attorney's office to handle the paperwork and escrow?

3. Should I try selling locally through an agent to try and include non-investors in selling the properties?

Any help would be appreciated.

Thanks

[Joel Owens]

Depends on if the properties "highest and best use" money wise is selling to a homebuyer, rehabber due to condition issues, or a buy and hold investor for rental income. Also a factor is if you are looking to do a 1031 exchange on these properties and tax defer into other properties or you want to sell and cash out with paying the capital gains tax.

The timeline you want to accomplish this in will also determine options.

Determine what you have and who the target buyer is.

Look up Chris Clothier on here. He manages thousands of these houses and might already have investors that would buy them or he might.