All Forum Posts by: Kathleen Albert

Hi there.  My renters are interested in buying my property, and I am interested in selling.  Assuming we agree on the price do you think it possible to do all the paper work ourselves?  Or, with a lawyer (who is a relative and would do it for free).  In the Bay Area could I find a realtor who would handle all the transactions for a flat fee, say $5-10k, which would be 1-1.5% of purchase.  Easy money right?

Is there a good rule of thumb when it comes to GRM? Like, should you stay below 10?

I never set out to be a landlord, but I am. I bought a foreclosure for $285k in 2009. No mortgage, HOA $630/mo. Annual prop taxes $5500. I moved from here about 6 months ago. Renters pay $3850/mo.

I could net $850k+ right now if we sold. I do not plan on moving back to this property. After expenses we net $32k/year - so that's a 11% on ROI and 4% ROE. (BTW just learned concept of ROE, like I said not a professional yet). Note: rental prices and house valuation has not increased in the last 2 years.

Would you sell to get all that $ out?  I feel like a 4% return is quite low.