Marketing a Four-Plex - Posted by L.D. Hudson

Posted by Ronald * Starr(in No CA) on September 23, 2003 at 24:24:53:

L. D. Hudson----------------

First, I’d recommend selling only if you are going to be trading up into a larger property.

I’d recommend selling it yourself. At least try for about three months. If you can’t get it sold yourself, then list it with a “discount broker” who, for about $300-500 will put it in the multiple listing service, but will not sell it for you. It will be up to you to price it, advertise it, have information sheet, perhaps show it. The agent who brings in the buyers gets a part commission. S/he also helps the buyers find financing. DOn’t carry a loan. Get all of your cash out and use it for buying your next investment.

If you have a lot of equity in the property, you might want to just hold on to it and refinance to provide cash for buying more properties. The refinance money is tax free. You can take as long as you like to find a new property, not being rushed as you would with a 1031 exchange.

Good Investing*************Ron Starr**************

Marketing a Four-Plex - Posted by L.D. Hudson

Posted by L.D. Hudson on September 22, 2003 at 22:31:34:

I’m thinking of selling a four-family apartment building I own. It was built in 1962, is in good repair, and is in a well-kept neighborhood. It’s one of just three small apartment buildings on a street lined with single-family homes in an inner-ring suburb. Market value is around $145K. Question: If I list this property with a broker, which type of broker would be best – a residential broker who deals with smaller landlords as sellers and buyers, or a commercial broker who specializes in apartment properties of all types, including properties like this one? Does anyone have thoughts on which type of investor market is likely to produce higher offers? Any other advice on how to market a property like this one? Thanks in advance for any thoughts you may have on this.

L.D. Hudson