Finding buyers for an unusual property

[Jessy Moser]

So this is my first time posting on here, but I try to read and listen when I get some time. I went out and got my real estate license, and got into wholesaling as well, and through real estate I found a landlord that was wanting to sell his properties through me as a Wholesaler. I explained how the process works and he's ok with the profit split. We got the contract signed, and I started looking for a buyer. Being pretty new to this I understand that selling your first wholesale deal is gonna be rough, but this deal seems like it's gonna be a bit harder than a normal one would be. You see, the property consists of 5 house, and one of them is a triplex, and 5 RV spots. All of the rentals are being rented out, but only 2/5 of the RV spots are occupied. It's getting $5550 currently, with full RV spots, and increasing rent (it hasn't been increased in 10 years for a few of them) you could get quite a bit more per month. The buyer is looking to get a cash offer for it, but I've only gotten really low offers, like in the $200k range. Using the 1% rule you could assume this place is at least worth $550k and on the tax records it's worth $375kish. If the numbers are there, why is it so hard for me to find a buyer that's not trying to low ball me by $300k?? I mean, I can get him down to the $450's, but $200k isn't even worth his time.. I'm running out of time on this contract, what should I do???

[Jorge De Jesus]

@Jessy Moser if the tenants cannot have rent increased and you are not 100% occupied it’s only worth the 200k. Especially to someone who has to get it occupied or perhaps find a different use for the property. 1% at 100% occupancy plus in a growing market where you can turn over tenants without fear of not finding the next one makes sense. I’m not well versed in Crosby although I’ve flipped land there. But you would have a better sense than I as an agent as far as growth and appreciation