Sell a property that has a tenant in a long term contract

[Trae Robrock]

When I moved away I rented out our house, since then I've been reading and learning from the forums and have since learned that it's not a property I will be able to get turned into a cash flowing property anytime soon.

I'm now looking at what are my options in terms of selling it, our lease doesn't specify anything about the sale of the property, but am not sure what that really means.

Does anyone have experience in this or have a recommendation of someone I could connect with (probably a lawyer) that could advise through this?

[Brian Spohr]

Cash-flow investments in San Jose and surrounding area are rare, and holding for appreciation is risky, so I agree that selling and redeploying capital into other investments may be the best option. Selling with the tenant in place could help, if sold to an investor, the rent is at market, and there is a good payment track record/tenant has good credit. Otherwise, this could hurt the sales price. Negotiating an early termination may be in your interest, which would open up the buyer pool to owner-users. Reviewing the lease will be important in determining your options. Was anyone consulted in writing it? If so, maybe check with them first.