Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 6 years ago, 01/05/2019

User Stats

129
Posts
65
Votes
Rudy Avila
Pro Member
  • Rental Property Investor
  • El Monte CA
65
Votes |
129
Posts

Developer called said they want to buy my property, what do i do?

Rudy Avila
Pro Member
  • Rental Property Investor
  • El Monte CA
Posted

Hello Bigger Pockets members wondering if anybody has experience in this subject. I have a property right in the middle of a growing city. Its a duplex non conforming, now its zoned commercial. My 1.5 acre property is on a block that everyone knows will be developed sooner or later and today I got a call from a developer saying they want to buy my property for cash and asked how much do i want for it. I said i dont know you tell me? My property currently is cashflowing $2,550, plus looking to rent another room out for another +$800 a month should be rented for that amount within a month or 2,  plus my plans this year is to rent that extra acre left over for another $500 a month more. I explained to them that, so they can see im not just a homeowner with the property doing nothing and that its already doing good for me. Whats happening in the city is an Aldi just went up on the same block few houses down, across the street from that a very big shopping center is going up with a Sonics restaurant and more, what triggered this is a huge company came to town. It will be fully built in the next 3 month (after 2 years of building it) with 600 new jobs. When they call again i will say to them again i am interested in selling but for a price that ill make money on if not it wont be worth it for me because Ill Still make the same amount of money they want to pay me in X amount of time Plus still have the property. Any suggestions what to do? Tell them I want a big amount now or hold off till things get way hotter and then sell? if so anybody hold off so long that they got a very huge payday? Thanks 

  • Rudy Avila
  • Loading replies...