Selling Investment Rental Properties to Other Investors

[Mike B.]

Has anyone found a good platform for Selling Investment Rental Properties to Other Investors?

Basic Scenario:

I own a single family home in Pennsylvania and I live in California. The property has newly placed tenants starting a 1 yr lease with $700 monthly rent. The property just passed code enforcement inspection and needs no repairs. I decided that I want to sell the property off. The local Realtor's CMA gives the property a $68,000 value and I would like to Net $58,000. The property is a 2 bed, 1 bath, 1232 sq. ft. home with basement and detached garage. New roof and furnace a few yrs ago.

I would think it should be relatively easy to sell as a Turn-Key/Tenant-Occupied Rental Investment Property...... just need the best platform to advertise it.... 

Other than craigslist and connected investors, has anyone used any other effective ways to sell (or buy for that matter) their rental properties?  I'd rather not use a real estate agent and lose profits on commission if I don't have to.  I'm aware that BP has a buying/selling marketplace as well, but just looking for all available and useful options.

Thanks all.

[Brandon Simmons]

Hi Mike!

This is one thing from investors I have trouble grasping. They always ask "Can you sell to another investor?" Understandably, many properties are only desirable to investors because of repairs needed or anything else that may cause the average buyer to turn the other way. However, if it is in great shape and needs no repairs you are hindering yourself from a whole market of buyers, particularly a first time home buyer in that price range. Will you lose some profit with the Realtor? Sure, but you also are advertising your property on the MLS through them, using a lockbox so other agents can easily show the property, and your agent who should be able to handle most affairs while you are in California. If you're lucky the agent may have their own buyers list of investors. Most local investors I talk to say they use craigslist and keep in contact with an agent to find properties on the MLS. Losing money on commission is never desirable but in your situation being across the country it may be worth it for faster/easier transaction.