All Forum Posts by: Trina P.

Thank you so much for your feedback. I am selling with a discounted broker, however, I think even if I were to sell with a higher-end real estate agent, there doesn't seem to be a ton of demand for showings. I'm only getting maybe 3-4 a week. The property is vacant. I ended the lease in May with the tenant so I could sell the property. 

Hey everyone,

I'm having trouble selling a property that I've rented out for several years. It's an older home, and it's currently set up as a rental, which I think is part of the reason it's not selling. We put it on the market at the beginning of summer and had one offer but it fell through. We were renting it out successfully for $1,800 a month. It's located in a great school district and a nice part of town. We want to sell to transition to STR and also invest more locally as long-distance investing comes with its challenges.

Does anyone have advice on how to get the best offer without lowering the price further? I've considered selling to investors, but I'm concerned they might want a substantial price cut, which is why I'm trying to sell it to residential buyers first. Any advice would be appreciated. Here's the address: 10024 Strong Drive, Huntsville, AL. 

I'm looking at purchasing this property in the country on 8 acres in Texas and renting it out as a short-term rental. I'm finding there are a lot fewer regulations once you step out of the city. I want to stack this home full of amenities like a game room, movie room, etc. There's this huge shop for storing a boat but I'm trying to figure out anything else I could do with this space to add more value to the rental. (also sorry for the typo in the title. I can't figure out how to edit it)

Any ideas? 

Hello!
I'm planning on renovating our SFH in Huntsville in Madison County before the next tenant moves in. I had a contractor all setup but unfortunately, he's ghosting me in the final hour. I'm looking for a contractor for work scheduled for May 1st. So Kind of last minute. We don't live in the area so we'll be reling on our PM to coordinate. Does anyone have any recommendations for contractors they've used in the area? Looking for someone who is reliable and a fair price.

We are wanting to update cabinets and granite countertops, redo the master bathroom shower with new tile, and reglaze with new tiled shower, and interior painting.

Thanks in advance for your help! 

Thank you for everyone's feedback. We don't live in the area and so the local insight is very helpful. The property is fairly old and we'd like to cash out now while it's still somewhat a seller's market. 

@Dave Foster This would be my first time using a 1031 exchange (a "novice" if you ask @Jaron Walling) We know we want to sell but aren't 100% sure about the next investment yet. Are you saying if say we were to sell directly to the existing tenant, and didn't use a realtor, we should make the 1031 contract "assignable"? Can you explain a little more about what assignable means? 

I'm using the proceeds towards another more lucrative investment opportunity so I was planning on doing a 1099 exchange. At what point can you can a capital gains exclusion? 

Theresa, good idea on asking the tenant and using a realtor instead of PM. 

Do you think it would be better to sell now or in the spring? 

Thank you so much for your insight! 

Can any locals in the area tell me what the market demand is right now? Also what upgrades/improvements are most saught after? I'm trying to figure out which improvements I should do to the property before listing it for sale. 

Hi Bigger Pockets!

My husband and I own a rental property in Huntsville in Madison county. It's a 4 Beds·3 Baths·1,395 Sq Ft in amazing school district, has really good tenants, and overall has been an excellent property for us these past 5 years we've owned it. We're only collecting $1350 right now from the tenant so the rent count definitely be increased. Probably closer to $1900.

My question is, our property manager has offered to sell it for us but should we try to sell it ourselves to save the commission? Is there enough demand? Also, our tenants have a lease that expires in June. What's the law in Alabama for breaking the lease to sell? Can I give them notice? 

Would it be better to sell as an investment or on the MLS?

Thank you for your help! Here is the zip code for reference 35803 

After doing a few BRRR and flip deals, our business is looking into buying a long-term parking lot and turning it into an outside self-storage lot targeting RVs, boats, trailers, and cars. We have one lot in mind that's already paved, in a good part of Hurst, and has lighting. Once we start generating revenue, we will install covered parking units. Since we are starting out, I'd love the opportunity to hear from anyone who has experience with this or is very familiar.

A few questions:

What is the typical vacancy rate for this type of storage in the DFW area?

Are there any zoning requirements when installing a small office on the lot?

What level of security is needed from most insurance companies? For example, is there any significant advantage to having a security guard?

Are there any permits needed? 

Any other tips would be great! Thank you in advance for your time. 

Thanks so much for the advice Sarah! We will definitely keep those tips in mind. It sure seems like a big cliff to jump off of, but might be the best route in the long run.