Posted by Mark on July 30, 2004 at 24:31:26:
By the way, if you ARE serious about selling I may be interested in purchasing…contact me through e-mail and we can discuss.
Need advice on selling everything - Posted by DougIL
Posted by DougIL on July 29, 2004 at 10:57:16:
Hi,
I have invested in RE for the past six years and currently own 23 units in five buildings, everything from a SFH to a 10 unit building. They all are in good shape, fully rented, and cash flow well…but I’m getting tired of managing them. My question is what is the best way to sell these? I do have my RE license so could list them myself and also save commission, but I’m wondering if it might be better to sell them on my own as a package and carry some $ back and make out better. My plan is to make enough to pay off all debts completely, including my home, and live debt-free. Anyone have experience in selling a small portfolio like this and/or becoming completely debt-free? Thanks!
DougIL
Re: Need advice on selling everything - Posted by rm
Posted by rm on July 29, 2004 at 14:09:34:
Why sell at all?
Evevn poorly managed, this portfolio should perform well for you with somebody else handling it for you, no?
Being debt-free is all well and good, but owning assets that pay you day in and day out, IMO, is more valuable.
Re: Need advice on selling everything - Posted by Randy (SD)
Posted by Randy (SD) on July 29, 2004 at 13:34:42:
I presume from your screen name you’re in Illinois, where are the properties located (just the city)… might be interested in the package.
Re: Need advice on selling everything - Posted by beachboy-GA
Posted by beachboy-GA on July 29, 2004 at 18:19:04:
I would consider getting a management company.You sell, taxes are going to kill you… so you might be ahead to keep and have a management co. do the dirty work for ytou
Re: Need advice on selling everything - Posted by Mark
Posted by Mark on July 30, 2004 at 24:28:27:
I agree with above two replies. Read the book “The weekend Millionaire”, which is probably available on this site. If you want to live “debt free” why not shift all of your personal debt onto the properties and let the tenants pay off your good debt/assets for you?