All Forum Posts by: Jill H.

To be clear, is this the way I would figure it. Property was listed for $129,900 and generated an NOI (NET) of $8540.00 a year, then the cap rate would be 8540.00/129,900. "But" a good cap rate is 9% to another investor???? What is a good cap rate to an investor??

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Turnkey Markup question:

Selling two of my properties here in Georgia. The market is coming up in the area which is great. I think I am ready to sell. Both has been rented, tenant has been in the house for 3+ years. The other tenant has been in the house for 1 year on a 2 year lease. The houses are in average condition, great neighborhood and newer 2002. They were flips I decided to hold.

Questions:

Is it true I can ask for a higher price if the property has good tenants in place and the property is in average shape. "Can I get more for the houses than market price - markeup"?

If I can get over market price for turn-key --- How much higher is the norm over market - Markup??

How do you determine a selling price on a rental that is turn-key --- Are other formulas or factors involved for markup?

Thank you for any advice and strategy or method. I really need help on this one.

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Originally posted by @James Wise:

Originally posted by @Jill H.:

Jame, thanks for the reply. I saw the marketplace but wasn't sure if it was truly utilized to sell properties or if investor purchase from the site. To be clear, was it the Marketplace section?

Yes the Marketplace. You will need a Pro or Plus account to post in the marketplace but it will more then pay for itself if you utilize the marketplace and the site correctly.

Thank you for all your help! I had been searching for a site for weeks to list the properties and was coming up empty handed. Just wasn't sure of the Marketplace. Good to know I can place them there and it will generate real buyers. I will upgrade and post the properties there. THX Again

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Originally posted by @Jeff Berlin:

@Jill H.

where are the properties located that you are trying to sell?

The properties are located in Jonesboro, GA

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Originally posted by @Michael Noto:

I second at @James Wise's post above. We have used the BP marketplace to market properties for sale and I am actually surprised at the number legitimate inquiries we get from BP members.

Thank you Michael for your response. I just wasn't sure if the Marketplace would generate any buyers or good quality of buyer at all. Good to hear investors are having success with selling properties on the site. I think I will try it and see what happens.

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Jame, thanks for the reply. I saw the marketplace but wasn't sure if it was truly utilized to sell properties or if investor purchase from the site. To be clear, was it the Marketplace section?

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I have a question to add, I would like to sell two of my properties to another investor only, due to tenants are already in place. The houses are next door to each other. One of the tenants are long time tenants and the other a newer tenant which signed a 2 year lease. I don't want them displaced. Because they both has been great tenants and has taken care of my properties. Do anyone have any ideas where I can post a turn-key property with tenants already in place? I appreciate any advice. THX

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How do you go about finding a good legitimate hard money lender with lower ltv? My clients that don't have cash is paying 50 and 65 LTV. Are there any "legitimate" lenders or private money lender out there with at least 70% or above LTV? I am finding not all is legit when I call them and its to good to be true type thing. This is for me not my clients. Appreciate any input?

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Originally posted by @Chris Clothier:

@Jill H. -

Lots of commentary, not too many ideas mostly because it is difficult to figure out what the real question is. I have no idea who the company is that is trying to sell the properties. As @Jay Hinrichs said, a company like mine would not have any interest is selling other companies properties and without the MLS, you could be up against a wall. Do you have a marketing budget? If not, you are going to be relegated to placing Craigslist ads in cities where you are looking for buyers. That is harder said than done. But, we have had success their too - it was a long time ago, but we generated leads through Craigslist, postlets, Vimeo ads, etc... Lots of free places to place ads, but it will be difficult. You also need to list whatever you are selling here in Biggerpockets.com marketplace. Whether a buyer comes from BP or not, you have a better shot of getting a BP forum post picked up in a Google search than any of the other free sites.

For those saying you cannot sell Turnkey properties on the MLS, we do. Every month in all three cities. Every property we sell gets listed on the MLS and while the percentage that sell from an MLS lead is very small, they do happen. Not being able to list them is like tying your hands behind your back.

I think no matter how you go forward, if you do not have an active buyers list looking for Turn-key properties it is going to be tough. If the owner really is a turnkey company and they are turning to an agent in Atlanta with roots in Memphis to sell the properties and you don;t have experience selling TK properties, then they may be in more trouble than this posting shows. Good luck to you.

Thank you!

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Originally posted by @Jay Hinrichs:

@James Wise

the reason most TK props are not on MLS is because they tend to be on the high side compared to those on MLS..

thx!

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All Forum Posts by: Jill H.

Jill H. has started 14 posts and replied 58 times.

Post: Turnkey property question - strategy for selling - pricing??

Post: Turnkey property question - strategy for selling - pricing??

Post: Best place to sell properties turnkey with good tenants already in place

Post: Best place to sell properties turnkey with good tenants already in place

Post: Best place to sell properties turnkey with good tenants already in place

Post: Best place to sell properties turnkey with good tenants already in place

Post: Best place to sell properties turnkey with good tenants already in place

Post: House Flipping Financing question need help

Post: ADVICE PLEASE: Marketing Turnkey properties with renters living in them to buyers

Post: ADVICE PLEASE: Marketing Turnkey properties with renters living in them to buyers