Investor Strategies
Hello All,
Possible dilemma...I have several homes (3 to be exact each w/ 30+K in equity) that I would prefer to sell. Since I have not yet been able to, it was suggested that I realize the potential I'm sitting on and pull out the equity on all three properties to do other investments. This goes against my practical nature but then again so did buying 6 homes in one year.
If you were in the market for your own personal resisdence where the sale of at least one investment prop would make all the difference and had 3 additional investment homes, what would you suggest?
Thanks in advance,
LMAD
you're not giving enough info.......kenmax
Have you considered selling these "creatively" instead of just retailing them? Also, if you are pulling money out to do another money making deal, I don't have a problem with that as long as the numbers work.
"Selling them creativly" !!!! That's exactly the type of information I lack. Which is why I named this topic "investor strategies". Other than letting investors know about my available properties, and sending mass emails to other investors through the mortgage/ brokerage firms I've dealt with...that's about as creative as I've gotten. I'm also in the process of trying to sell them via auction using the book entitled : "How to sell your home in five days".
As far as me not providing enough info?? In order to gain some insight on creative ways to sell these homes, I'll give you any info you want.
But to try and respond ...
I bought with the intentions of flipping.
I made sure I got in low enough to allow enough equity for the next investor. (40K, 45K, and a 75K that's currently under contract)
Several months have passed and they have not yet been sold.
I'm steadily eating into what I "used" to consider profits and a down payment on my next personal home.
So, simply put, I'm starting to panic. :-x
Thanks again
If you are truly motivated- you can Lease Option the Properties to another investor.
first you must determine why they are not selling. the price is to high, curb appeal, advertising method are factors in selling......kenmax