 Ridiculous list price! (by NE [PA]) Jan 12, 2021 8:14 AM
 Ridiculous list price! (by plenty [MO]) Jan 12, 2021 8:24 AM
Ridiculous list price! (by WMH [NC]) Jan 12, 2021 8:27 AM
Ridiculous list price! (by T [IN]) Jan 12, 2021 8:36 AM
Ridiculous list price! (by nhsailmaker [NH]) Jan 12, 2021 8:36 AM
Ridiculous list price! (by Ken [NY]) Jan 12, 2021 9:10 AM
Ridiculous list price! (by plenty [MO]) Jan 12, 2021 11:02 AM
Ridiculous list price! (by Oregon Woodsmoke [ID]) Jan 12, 2021 11:56 AM
Ridiculous list price! (by MikeA [TX]) Jan 12, 2021 12:01 PM
Ridiculous list price! (by Dave [MO]) Jan 12, 2021 8:14 PM
Ridiculous list price! (by Sandy [CO]) Jan 12, 2021 8:48 PM
Ridiculous list price! (by Johnny B. [MA]) Jan 13, 2021 12:39 PM
Ridiculous list price! (by Dave [MO]) Jan 13, 2021 2:33 PM
Ridiculous list price! (by Ray-N-Pa [PA]) Jan 13, 2021 2:38 PM
Ridiculous list price! (by NE [PA]) Posted on: Jan 12, 2021 8:14 AM
Message:
With everything going on in the market right now, I threw my six unit on craigslist just to see what would happen. I bought it for 105,000 in 2010. I listed it for $295,000 with no pictures and a very vague description and I've had a ton of interest. Just from craigslist! --70.44.xxx.xx |
Ridiculous list price! (by plenty [MO]) Posted on: Jan 12, 2021 8:24 AM
Message:
Sell it. Sell it. --172.58.xx.xx |
Ridiculous list price! (by WMH [NC]) Posted on: Jan 12, 2021 8:27 AM
Message:
Watch out for the wholesalers that are rampant out there right now. Someone somewhere must have done a seminar recently. --50.82.xxx.xxx |
Ridiculous list price! (by T [IN]) Posted on: Jan 12, 2021 8:36 AM
Message:
10 yrs ago, nobody touched a multi unit building. Now every person in RE wants one and will over pay for it. Pull the ad down, wait week... relist at 350k. You will still get interest. --76.77.xxx.xxx |
Ridiculous list price! (by nhsailmaker [NH]) Posted on: Jan 12, 2021 8:36 AM
Message:
ACTION PLAN:
Pull it from Craigslist
hire a REAL commercial Broker - NO residential brokers - NONE
List it for $400,000+/- and have a pro-forma on a spreadsheet proving that price using any cap rate to get the number you want
People are scared about where to put their money and RE is like candy to them --73.61.xx.xx |
Ridiculous list price! (by Ken [NY]) Posted on: Jan 12, 2021 9:10 AM
Message:
I agree with NH Sailmaker,you might be surprised what you get for it.You can buy it back in a couple years half price probably --72.231.xxx.xxx |
Ridiculous list price! (by plenty [MO]) Posted on: Jan 12, 2021 11:02 AM
Message:
when i tested something like this, they all said yes to buy but only offered 1/3 of my asking price. it was a waste of time... yes more and more people are taking classes and they disregard the asking price, they will only pay so much and at the end of the day they waste alot of my time. I'm sure they won't waste your time cause you won't give them any of your time! --172.58.xx.xxx |
Ridiculous list price! (by Oregon Woodsmoke [ID]) Posted on: Jan 12, 2021 11:56 AM
Message:
Six units for $295,000. You probably don't understand how cheap that sounds to someone from the west coast.
Lots of Californians are trying to invest in rental property as far away from California as they can get.
If you really want to sell it, list with a commercial broker who advertises nationwide. I'll be surprised if you can't get more than $295,000 from someone coming in from out of the area. --76.178.xx.xx |
Ridiculous list price! (by MikeA [TX]) Posted on: Jan 12, 2021 12:01 PM
Message:
I'm closing on a SFH this afternoon that is going to an investor, I'm assuming he is new at it. He wanted it even though his offer ended up being several thousand over appraised value. It will generate a negative cash flow even with putting 20% down. I don't know the guy but from the neighborhood he lives in I can't imagine that he is going to manage himself. If he hires a property manager it will have a substantial negative cash flow. The only hope he has is that inflation eats away at the loan or that demand drives up the price and rent. That's riskier than playing roulette.
I don't understand why investors have all of a sudden thrown out the basic analysis when buying. Here's 3 of my rules that would have prevented me from doing the deal if the roles were reversed:
1) If you can't turn around and sell it without a loss then don't buy it.
2) If it doesn't generate a descent positive monthly cash flow then don't buy it.
3) If you are not looking at a ROI higher than 20% then don't buy it.
In any event, I'm happy with 350% appreciation after only a few years. I used a real estate agent to filter out the riffraff. If you decide to do it yourself prepare to spend an inordinate amount of time with lowball offers, wholesalers, and tire kickers, they will wear you out. --64.130.xx.xxx |
Ridiculous list price! (by Dave [MO]) Posted on: Jan 12, 2021 8:14 PM
Message:
Sell. It’s a great time to take some profits. I don’t know when investors will see real estate prices soar like they have recently; although I would say you have all of 2021 to decide. I know some that have sold everything and they are flush.
I’m selling as they become vacant, so far it’s been a blessing. --173.216.xxx.xx |
Ridiculous list price! (by Sandy [CO]) Posted on: Jan 12, 2021 8:48 PM
Message:
I’m wondering about those that are selling, how are you paying those taxes? I have a property I’d like to sell but don’t want to pay $100k to income/capital gains taxes. Are you just paying The taxes and moving on?
Also, the loss of cash flow is another issue I have with selling. --198.54.xxx.xx |
Ridiculous list price! (by Johnny B. [MA]) Posted on: Jan 13, 2021 12:39 PM
Message:
But what will you do with the money? Take the tax hit and let it sit in a bank account at 0.5% interest? Stock market would be too risky with the administration change. Would you miss the monthly income? I’m not asking these questions to be negative. I’m honestly curious what you, or others that have sold, are doing with the money? --73.186.xxx.xxx |
Ridiculous list price! (by Dave [MO]) Posted on: Jan 13, 2021 2:33 PM
Message:
I will pay some capital gain taxes. My particular houses I sold were in my portfolio longer than 4 years.
Pay off debt. More freedom with less rentals. And will place some funds in the stock market. My prediction is market will go higher and if we have correction, even a better time to put more money in the market and don't trade in and out of the market. --173.47.xxx.xx |
Ridiculous list price! (by Ray-N-Pa [PA]) Posted on: Jan 13, 2021 2:38 PM
Message:
I had an empty dance studio space in a commercial building that I listed on CL once for rent. I got an email that said, the pics look great - I'll buy it. Please send it to me and will send you money upon receipt --24.101.xxx.xx |
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