Investor · searcy, AR · Member since 2016 · 147 posts · 111 votes
Hi I have an apartment building that I am attempting to sell. It has been listed with an agent for one year with roughly “0” leads. I’m not complaining because I make pretty good money on it as it sits, but I also would make a fair bit if it sold and be able to pay down some debt I owe and invest in other areas.
My question is, where should I be going to sell this thing. My agent has it listed on the MLS and that is it. No sign, no leg work, just listed....
Investor · Searcy, AR · Member since 2018 · 52 posts · 39 votes
7y
Hey Dustin,
you should package it to a physician or another individual who wants to own rental property but does not have the time to actively work it. Leave some meat on the bone for them so it has a 5% to 6% cap rate after paying all expenses including management. You may not get exactly what you want but you will probably move it. Think outside the box on it. Not sure anyone around here is going to work hard to move it so you might have to put the work in yourself. I would put the word out in LR Memphis Conway Jonesboro. Just an idea anyway.