OK, I'll start out by saying that this article is only going to apply to a rather small niche of home sellers. However, if you happen to fit into this niche, this may help you to sell your home when you've been having trouble doing so.
Let's take some of you off the hook by giving you the criteria that may make this article a solution to your problem; or not. If you don't fit into one or more of these niches, then it's probably not going to work for you. But, if you do, taking a proactive approach could get your home sold quickly, even if you've been having problems.
• You have enough equity in your home to sacrifice some or all of it to get a sale price at or below current market value.
• You have a serious need to get out from under the home, perhaps to relocate for employment opportunity.
• You can't afford to keep paying for this home while renting somewhere else.
First, let me say that this isn't about getting you a great deal. It's about getting you a deal! If you've been trying to get out from under the home unsuccessfully, then this is a possible escape route, not a profit opportunity.
Let's face the facts of life. A real estate investor, probably in your case a rental home investor, is looking for two things: 1) Buying below current market value, and 2) Renting the home out for positive monthly cash flow. Meeting both of these criteria just could land you a fast cash deal.
Yes, you could call on one of those little signs you see on street corners around where you live. You may even reach your goal that way. However, I'll give you a couple or other approaches to locate an investor buyer for your home.
Real Estate Investment Club
You don't want to invest in real estate, but the people who join these clubs and attend meetings do. You can usually get permission to attend a meeting or two without having to join and pay dues.
Go to a meeting with photos of your home and what you're willing to take for it to solve your problem. Sure, you can ask for full market value, and it's possible you'll find a buyer; kind of like finding a four-leaf clover. Be realistic, and have a number that an investor will realize is at some discount to full list to lock in a profit from closing.
Also, do a little research. Find out what homes like yours are renting for. Use a mortgage calculator online to determine a mortgage payment if they put around 20% down. If there's room for taxes, insurance and maintenance, and there's still some cash available every month, you may have a winner.
Don't be shy, approach investors with your brochure materials and hand them out. You just may get some really serious interest on the spot.
Craigslist has good news and bad news as well. There are plenty of scams, so go with caution. Investors are advertising all over Craigslist, so you can create a PDF document of your sale brochure and send it to investors advertising for rentals on Craigslist. If you get a bite, they'll want to negotiate you down, but stand your ground if you're at your bottom line.
Run your own ad on Craigslist with a title like: "Perfect rental cash flow property in xxxxx subdivision, $###,###.
Be careful and don't meet people alone at your home. Have someone else there for safety. Don't have valuables out on display, as you may find that you're the victim of a breakin the next few days. These are just logical precautions.
You can respond to investor ads or you can be proactive and seek out a buyer. One advantage is that you may locate a less aggressive investor who holds only a few properties and isn't into a mass business. It could get you your price.
Have you found success in real estate investing by implementing different approaches? Have you struggled to take that first step? Let me know what you think by leaving a comment below, or by finding me on social media: