Posted by Bela Ba on January 24, 2002 at 23:40:53:
Sorry, I can not answer your question. But if you were to include much more details (data and what you want to accomplish, I believe that you’ll get much responses.
Do you absolutely need to structure notes in order to sell your properties ?
I am looking to buy 1 to 50 rental units anywhere in the US, if the price and the terms are fine. If you are interested and / or know about really motivated sellers please let me know by phone or email. Thanks & Good luck !!!
Bela Ba
MegaFinance
TeleFinance Marketing
Tel: 514 736-1324
Email: bbelaba@hotmail.com
WANT TO SELL 2,3,AND 4 UNIT BUILDINGS? - Posted by BILL TAYLOR
Posted by BILL TAYLOR on January 21, 2002 at 22:06:51:
I want to sell many 2, 3, and 4 unit buildings I have and wonder about how to structure notes to facilitate this. What kind of credit score do I need to look for from buyers? Do I need to season these. Will I need current appraisals. Who should I use for appraisers. Any suggestions would help much. If you can make suggestions please contact me at 765-643-5217. I have people calling to buy but I am not sure how to sell them this way. Rental property loans seem to be a bit more difficult to get for thses buyers.
I mostly buy direct from sellers or at auctions, rarely through real estate brokers and agents.
However, this may be a situation where the expertise of the real estate agents could prove valuable to you. Suppose the agents could get you cash-out offers? Would that be valuable to you? What about their market knowledge so prices can be set to sell fairly soon and to get the highest reasonable prices?
I would recommend that you talk to 3-5 agents about each property and get them to tell you what they would do and what to expect in terms of prices.
Now, most of what the agents do to “sell” your properties is not really fantastic. They put them into the multiple listing service so that agents who have potential buyers in tow can see them and expose them to the potential buyers.
Some agents will promise higher prices than are realistic. You will probably know them if you talk to several different agents on each property. I remember that happening some years ago when a partner and I were preparing to sell a property. The price that one agent said she could get us was well over the figure that other people were quoting. I thought “Gee, what if she really can get that for us?” Then I faced reality, she was lying. We did sell for more than most of the agents indicated, but not what she said.
If you don’t want to list after talking with them, you don’t have to do so.