Even open houses on occupied rentals are a bad idea.If you want the highest sales price possible, you will have to list it on the MLS. 

.: With the laws that the CA legislation has passed, you could piss off a city inspector and there is nothing they can do about a safe unpermitted unit.Possibly/probably....but I think the point we are all making is - why take chances on losing time and money and stressing yourself out?

Don't forget your taxes on a sale!

No way I would trust this to chance.

As you mentioned, it might be difficult timing the sales of each of properties where you can achieve a combined exchange (multiple properties into 1 property / or a few properties).Just a quick note that may be helpful - I work with a group of investors that can help with a combined exchange into a single property and will buy it back once you've found a replacement propertie(s) as the final destination for your capital.

It was mentioned above you could refinance into a conventional loan, however with the 5% down conventional primary residence loan on multifamily now chances are you won't refinance this FHA loan unless you plan on living there for an extended period of time and rates come down. 

     * House is a 2699 sq/ft Single Family Residence| 3 beds, 3 bathroom | Built in 1956 | NO HOA     * There is a chance I could pay only interests so I can start saving some cash for the incoming maintenance and annual payment equivalent to the 12 monthly payments (~$5,029.77 per year during the balloon period)The advantages I can identify in this deal for me are:* Lower interest compared with traditional loans* Lower down payment compared with the ones compared for traditional loans* House is technically ready to be rented (waiting for the inspection) * Forecast - 3 yr growth (appreciation) is expected to be 8.1 % (Bigger Pockets)The disadvantages I can identify: * I am still vulnerable to foreclosure if sellers don't make mortgage payments to the bank.* Refinancing issues at the end of the Balloon Payment?

Even if you have to travel a couple of hours, you have a much better chance of finding someone.How to approach a mentorOnce you've found a likely candidate, it's time to reach out and ask.

Jorge, that first sale feeling really is something special, isn’t it?

Purchase price: $180,000 Sale price: $209,900 Contributors: Peter Vekselman Partner Driven and Traci Stephens purchased this Watertown, SD property on 12/06/2024 for $180,000 and sold it the same day for $209,900.