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 about 5 years ago,

User Stats

65
Posts
34
Votes
Gabriel Miritello
Pro Member
  • Rental Property Investor
  • USA
34
Votes |
65
Posts

Best way to sell home with existing tenets - Ideas welcomed

Gabriel Miritello
Pro Member
  • Rental Property Investor
  • USA
Posted

Hello All,

I have a home that we are ready to sell, due to ROI and life.

Home Value is $225K

Mortgage is $93K

Rent is $1100

Area rent ave is $1100-$1250

Things to consider

-Current tenants have been excellent renters for the past 5 years.

-Current tenets do not have the best credit

-tenets do not have 20% down payment

-If I increased rent to the max $1250 i see them moving 

I would like to sell to the existing renters to reduce the sales fees and the head ache of having to list and move them out to paint, replace carpet, etc, plus they are really good people

Im seeing my options as:

1: Normal sale...and move them out(realtor said not to many investors in the area are paying $225k for a $1100 a month profit)

2: offer to them and hope they can figure out traditional financing 

3:?????

I’m open to ideas. They are good people and I’m not trying to rip them off....but also not trying to lose thousands and a bunch of time. 

Thanks for your input!!!

-Gabe

  • Gabriel Miritello
  • Loading replies...