I own a property in Austin that I want to sale pretty soon within the next two or three months, but I'm not sure how much I should ask for it. But first, let me run down some facts:

1) The house is in one of the TOP 10 neighborhoods IN AUSTIN. (And it's not number 10)

2) The property carries no mortgage.

3) The property can easily get $1,700/mo.

4) It's a 2 bed 2 bath with a garage and small back yard.

5) I get at least 4-5 letters a month in the mail from investors asking to buy the property.

((WAIT!!)) Before you start screaming at me to not sale this property ever, let me offer some perspective.

My brother is currently living there with rent of $680, which barely covers the insurance and property taxes. As long as he's living there, I will never get any money from it. I figured the best thing to do is to sale it for a VERY handsome profit (do to the fact that the property doesn't carry a mortgage) and reinvest it in another property or something else. Based on my research, I could get close to 400k for it, just because of the location. Also, my mother and father lived their before they past away, so I also want to sale it for personal reasons. Finally, my brother does not have a solid income, so it would be hard for me personally to kick him out.

My question, and frankly offer, to you is what would you pay for it, and how would you go about handling this situation?

I thought $375k to $400k is fair, mainly because of the magnificent location. It does need some repairs, mainly on the outside, and a new A/C on the inside, but all together, about $10k-$15 worth. I'm only interested in all cash offers do to my situation. I already have a lot of interested investors BEGGING to buy this property.

Looking to sale one of my propeties in Austin, need some input!

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