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Updated over 7 years ago on . Most recent reply

User Stats

62
Posts
28
Votes
Barri Griffiths
  • Las Vegas, NV
28
Votes |
62
Posts

Selling rental house-how do I tell the owners?

Barri Griffiths
  • Las Vegas, NV
Posted

Hello,

I have a rental property that has a lot of equity in it, and I'm getting almost no return from it. I'm looking to sell it and take that equity and invest it Into a small multifamily(12-16units)

The current tenants have been in the property for two years and have been exceptional tenants(majorly improving the place, always paying on time, not requesting many repairs, etc) 

How should I approach them about the subject and what protocols should I follow?

I would love to sell it to them, but I'm not sure they're in a position financially to buy.

Also one of the tenants is a realtor, so I was thinking at worst she'd get the commission for selling it. But also it might make the house more affordable as I could sell it for to cheaper to them as there would be no commissions to be paid?

My mother is also looking to sell her house, and needs a realtor so the tenant could also represent her. Or is it a bad idea to cross mingle affairs?

Any Help with this matter will be greatly appreciated!

Cheers

Barri

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