selling a rental house (by Donna [DE]) Feb 18, 2018 3:11 PM
selling a rental house (by plenty [MO]) Feb 18, 2018 3:21 PM
selling a rental house (by BillS [CO]) Feb 18, 2018 4:15 PM
selling a rental house (by plenty [MO]) Feb 18, 2018 4:23 PM
selling a rental house (by fred silva [AZ]) Feb 18, 2018 8:20 PM
selling a rental house (by BRAD 20,000 [IN]) Feb 18, 2018 10:11 PM
selling a rental house (by BRAD 20,000 [IN]) Feb 18, 2018 10:11 PM
selling a rental house (by Deanna [TX]) Feb 19, 2018 5:46 AM
selling a rental house (by Ray-N-Pa [PA]) Feb 22, 2018 6:59 PM
selling a rental house (by Donna [DE]) Posted on: Feb 18, 2018 3:11 PM Message:
A friend and I own a split level home in a nice neighborhood in New Castle, DE. I want out and he can't buy me out. We are concerned now that our tenant says she does not want to buy the house. Neither of us have the money to pay the mortgage if the home becomes empty before we sell.
What are our options?
--71.230.xxx.xxx |
selling a rental house (by plenty [MO]) Posted on: Feb 18, 2018 3:21 PM Message:
Does your business partner friend want to sell also? --99.203.x.xxx |
selling a rental house (by BillS [CO]) Posted on: Feb 18, 2018 4:15 PM Message:
If you price it right you can sell in 7 days. You just have to give up equity. You actually have about 60 days without payments before it hits your credit. If you price right, you can easily sell in that time frame. Sell in your time (in this case fast), sell with an easy transaction, or sell for highest price. Pick two. --172.58.xx.xxx |
selling a rental house (by plenty [MO]) Posted on: Feb 18, 2018 4:23 PM Message:
If your partner wants to buy it they should try to get a bank loan. If they haven't tried then they are the only ones saying CAN'T or NO.
They really only have buy out your position... May not be that bad. --99.203.x.xxx |
selling a rental house (by fred silva [AZ]) Posted on: Feb 18, 2018 8:20 PM Message:
You can sell it as is, tenant occupied.
There are investors out there looking for an opportunity like this. --99.59.x.xxx |
selling a rental house (by BRAD 20,000 [IN]) Posted on: Feb 18, 2018 10:11 PM Message:
Donna,
Is your name on the mortgage?
If your partner wants to keep it he can refinance the loan.
Or he could buy oit your equity month by month as the rent comes in. That depends on his ability to manage a rental.
What does your partnership agreement say?
BRAD --68.51.xx.xxx |
selling a rental house (by BRAD 20,000 [IN]) Posted on: Feb 18, 2018 10:11 PM Message:
Donna,
Is your name on the mortgage?
If your partner wants to keep it he can refinance the loan.
Or he could buy oit your equity month by month as the rent comes in. That depends on his ability to manage a rental.
What does your partnership agreement say?
BRAD --68.51.xx.xxx |
selling a rental house (by Deanna [TX]) Posted on: Feb 19, 2018 5:46 AM Message:
You want out. Are you unhappy with the friend? The tenant? The biz? The house? Or is there something you would prefer to do with your money than have it locked up in the house?
You're concerned you can't carry an empty house. Has the tenant been making noises about moving? Or are you thinking ahead?
--96.46.xxx.xx |
selling a rental house (by Ray-N-Pa [PA]) Posted on: Feb 22, 2018 6:59 PM Message:
If in an LLC, sell the LLC with existing financing in place.
Perhaps you could place the property in a trust and then sell the trust if it is not in a LLC --24.101.xxx.xxx |
Reply:
|
|