Skip to content
×
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
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Creative Real Estate Financing
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 35 minutes ago on . Most recent reply

User Stats

18
Posts
6
Votes
Amanda Rechsteiner
  • Investor
  • Howell, MI
6
Votes |
18
Posts

Creative Exit Wanted! Investors, Buyers, & Deal Makers — Dual Income Property

Amanda Rechsteiner
  • Investor
  • Howell, MI
Posted

Hey BP! I am very interested to hear thoughts on this one. Let me know what you've got.

I have a property in my portfolio that I am looking to sell off market and creatively. I own a parcel with two homes on it and they are both currently rented out, bringing in $3,400 a month. Highly appreciating and sought-after area, well maintained, high-demand rental market with little to no vacancy. But the lot is nonconforming due to its nature (2 single family homes, 1 parcel) so it will not pass traditional financing/appraisal. We have tried and I have spoken to SEVERAL lenders. Deals have fallen apart on it because of that. We have also talked to the township to ensure everything is legal and good and they have zero problems with the property but due to current zoning and allowances, traditional lending/appraisal standards don't love it. 

Obviously a cash buyer would be ideal. Any other thoughts for selling it? Also, to keep it off market (privacy reasons for everyone involved and unique nature of the property), are there any sites or ways to connect with investors that would be looking for a property like this? I am in some Michigan off market FB groups but that is as far as I have gotten. Should I connect with someone that may have a buyer list of investors? Where do I find good and reputable people?

Thanks!

Loading replies...