Selling up

P

packard

Guest
Hi all,

I have enough at this stage of being a Landlord, so i'm putting my 3 bed semi up for sale to whoever wants it.My only problem is i still have a family paying rent whom i don't want to kick out because they are one of the few good tenants out there that cause no trouble, so all i can see as my only option now is to sell to another landlord, anyone know of one that's buying houses or point me in the right direction to selling it off. All advise greatly appreciated.
 
If you give them enough time I am pretty sure they will find somewhere else to rent, especially if you give them a good reference. It could prove hard enough for you to sell the property, never mind looking for an investor to buy a rental property. I wouldn't pigeon hole myself like that.
 
I know deedee, it's just a pain in my rear at this stage
 
packard...would you consider asking the current renters if they are interested in buying the house?.. maybe you could strike a direct deal with them at a lower price as you will have no auctioneers fees, advertising. You should also take into account that you would have no cost to upgrade the house for viewings, no mortgage payments whilst no tenants, no heating costs etc.... as I dont think you will be able to sell with tenants in it as they wont stage it properly for every viewing
 
Take the current monthly rent. Multiply it by 12. Multiply that by 14.

That's approximately what your property is worth to a rational investor, now that the capital appreciation fairy is long gone and interest rates are only going up from here.

Would you sell the house for fourteen times annual rent?

If not, how many years annual rent do you attribute to the house value?
 
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