All Forum Posts by: Alex D.

I'm in

I'll be there

@Darren Sager Sorry can't make it to this one.

Thanks for the advice @Nick Fitzpatrick and @Gerald Harris So far the tenants have been cooperative when working with my agent, but if  they don't make an offer this month, I'll try to do everything I can to help them move out ASAP. 

I am trying to sell one of my rental properties. My options are to sell to the current tenants or list it through an agent. I told the current tenants about my intention to sell the house about a month ago. They said they were interested in buying from me, but have not come through yet with an offer. They basically have two options as I see it -- buy it from me, or move out at end of lease (Sep 30).

So here is my question...

Legally, I know I have the right to show the property to buyers (with 24 hrs notice), but do I need to incentivize tenants to allow the potential buyers in to view the place? 

I believe that a potential buyer would be turned off by a messy house, a conflict with tenants upon entry, a wild barking dog, etc... I want to avoid conflict and have the showings go well.

If I were the tenant, I'd see potential buyers are competition, and the closer we get to the end of lease, the more motivated the landlord would become to sell. Seems to me like tenants have the stronger negotiating position here, and as the landlord, I would need to incentivize the tenants somehow. Any ideas on how to encourage my tenants to let buyers (i.e. competition) in to see the place? 

I'll be there

I'm in

I’m wondering if my story is common amongst real estate investors…

I spent almost a year and a half attending real estate investing seminars organized by my local REIA and I looked at maybe 40-50 properties before buying a little single-family residence, rehabbing it, and renting it out for positive cash flow.

My problem was “analysis paralysis” where I spent way too much time number crunching and worrying about all the “what if” scenarios in Excel. I finally pulled the trigger on my first deal when my wife’s cousin, an experienced investor, looked at a deal I was eyeing and gave me a thumbs up on the numbers (including estimated rehab costs after walking through the place with me) and that gave me the confidence to go forward.

What challenges or fears did you overcome in order to do your first real estate investment deal?

(A) not enough money 

(B) a fear of making mistakes and losing money 

(C) “analysis paralysis” 

(D) all of the above

(E) other (please explain)

I'm in

Thank you everyone for the great advice. This is very helpful.