Re: How do I find investor to take 60k equity? - Posted by John Corey
Posted by John Corey on May 11, 2006 at 14:25:57:
You need to move from being an amateur to a professional.
You lack knowledge about the rental market. You have little time to deal with a sale hands-on. You have other reasons to sell now rather than wait another year.
You are not eating it when you pay someone to handle all the details for you. At the same time you should be able to negotiate with an agent. Focus on the quality of the service for the price. It might be that for the services offered 6% is a bargain compared to 4.5% with an agent who will not handle things smoothly.
If you job pays you $60K in 45 days for part time effort then focus on the job. If you can take a few hours here and there (half days vacations?) to earn the 60K then maybe it is worth taking some time off (with or without pay).
You have options. Just do not be greedy and definitely assume that much of that 60K is for services that someone has to provide.
BTW - You might be able to higher a lawyer for less if you can find time to deal with the other aspects of the sale.
Also expect that an agent will provide services for free so they get a listing later. Hence look at the total value of the situation and move forward.
Your market appreciation can not continue - simple math. I would not bet on next year being so hot. Hence taking out the cash now and moving to your other deals is likely the right decision given all the other variables in your life.