Hey,
This is my first post after being a lurker for a month or two...
I currently have a property in Durham, NC (right outside Raleigh) that is a small home (3 bed /1.5 bath), 1,050 sq ft that I rent out for $825/mo. If I were to do section 8, it could rent for $925/mo. The place is in great shape (I just did all the renovations and everything).
I bought it from a friend for $45k, but I know that it is worth more than that, especially since it is bringing in such great cash flow. I don't want the place to to be empty while I try to sell it, but I would like to sell at the end of the year / early next year so I can get some cash to buy a bigger property.
Basically, I have two questions: 1) What do you think an investor would be willing to pay for this property? and 2) How do you go about selling a property with tenants in it?
I don't know if this is against policy, but FYI, the Zillow page is below for anyone familiar with the area: http://www.zillow.com/homedetails/809-Da-Vinci-St-...
Thanks in advance for the feedback!
