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Updated over 6 years ago,
Best Way to Sell a Cash Flowing Apartment?
Hi All,
In the past 10 years, I've had a very good niche' buying foreclosed properties from banks and rehabbing them and turning them into rentals. It's worked out very well and I've learned a great deal along the way about landlording and rehabbing. I love the strategy, but I'm ready to focus on solely large multi-unit properties.
As a result, I'm curious the best way to begin selling my smaller condo units to other investors. Typically they return around 8% cash on cash (over 20% ROI if using bank loans) and are fully stabilized in very good neighborhoods (B to C grade) in Monmouth County NJ, specially Oceanport.
For so long, I've only been focused on buying and building a portfolio that I don't really have good experience in selling efficiently to more passive investors, who aren't fully time like I am.
I'm opposed to using the MLS just because I really like my tenants and I promised that they could stay as long as they liked.
I would appreciate any tips, in selling "turnkey".
Thanks!