Investor Jerry Asks:
I'm in the process of listing selling my first rental investment. It's vacant, cleaned up & ready to sell and had a question regarding listing price. Bought the home for $140K 8 years ago. Home down the street (same floor plan, but ours has nicer landscaping and is closer to a greenbelt) listed for $165K and is active pending now. Agent said they didn't have to move much, but didn't say what they sold it for. Average days on market for comps are around 43. I'm thinking in a market like this we could list for $167 – $170, given the improved curb appeal and location. Was hoping I could get some advice on this, as I'm hoping this is the first of many “cash-out” deals for me.
QUESTION: WHAT PRICE WOULD YOU LIST THIS REI FOR OUT THE GATE?
Editor Note: Jerry needs your help to sell his investment property. Using only the information listed above can you help him out? Please leave a comment below with a $ amount.