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Updated almost 7 years ago,

User Stats

9
Posts
0
Votes
Arthur Michael Lum
  • Investor
  • Seattle, WA
0
Votes |
9
Posts

Is a property worth more under lease?

Arthur Michael Lum
  • Investor
  • Seattle, WA
Posted

My question is: Is a property worth more if there is a current lease with long term tenants?  

My initial thought is that will shrink my market by scaring out folks looking for a primary, but as a landlord finding tenants who don't complain about anything and pay on time every month is valuable.  I really want to keep this property/tenant but at the same time want to grow my investment and looking to do that buy purchasing a bigger property with a 1031 exchange.

I purchased for $115k and for what it is worth, zillow has it for $300k  I am currently renting it for $1,200/mo but market shows I can ask for $1,500/mo.  Lease ends in July.  Need some advise if I would sell with good tenants in place or let the lease expire and sell empty.  Thanks BP!

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