Next in our making the most of your investments series is finding buyers for your investment property.
Today Marcia and I take a look at what you can expect when your property enters the current market.
René Nelson, Eugene commercial real estate broker
Marcia Edwards, Eugene residential real estate broker
Making the Most of Your Investment Properties – Part 10
Marcia Edwards: We’ve talked about setting up an auction atmosphere when you’re looking at selling your investment property, you’re gonna have buyers interested; a lot of buyers and not enough properties out there. So doing that, how do you make sure that all the buyers know about the property before you entertain the offers?
René Nelson: Well, one thing that I’m pretty passionate about is helping a seller get top dollar and sell fast. Because one of the concerns for a seller, among many, they wanna make sure that it closes, that’s the big concern. And you probably experience that, especially with somebody putting their house on the market because they’re probably gonna go buy something different or new, you know.
Marcia Edwards: Right, exactly, yeah. Time frames are important and time is money. That is accurate, I think, especially in investment real estate, I imagine.
René Nelson: Absolutely. The last thing you wanna do is have a transaction fall apart 30 days into the process. So what I try to do is complete a pinpoint price analysis so we know exactly where your property would most probably sell in the market. I’m gonna give you a medium middle of the road price, I’m gonna give you a conservative price, and then I’m gonna give you an aggressive price. And I don’t always tell people to go for the top dollar, every penny on the table, ’cause you wanna create that action-like atmosphere.
Marcia Edwards: So auctions, traditionally, they’ll put it a notch below what they anticipate being the sales price. And the same strategy in real estate, generally speaking. But to understand, for planning purposes, the conservative number makes a lot of sense, and so does the optimistic number because everyone wants to talk about what could happen.
René Nelson: Yeah.
Marcia Edwards: So talk about how you find these buyers.
René Nelson: I have a pretty healthy, robust direct marketing advertisement program that I’m reaching out to buyers, typically about six months before I bring a property to the market. I am looking for buyers that are looking to buy a 10-unit, a 20-unit, a 30-unit, even a 100-unit apartment complex.
Marcia Edwards: I also think you know the go-tos in the State of Oregon, the realtors that do this for a living, much like yourself. So you probably use that network pretty early on as well?
René Nelson: I do, yeah. And one of the reasons that I’m doing that direct response advertising to the buyer and finding that buyer six months before you’re ready to sell your property is I wanna walk that buyer through the process. So if they’re gonna pay cash, I make sure all their cash is pulled together, and they know the market, and they’re ready to act quickly. And if they need to get pre-approved, I make sure they get in with the lender, and they get through the loan approval process.
Marcia Edwards: This is a lot of ground to cover for us in this little program. Let’s get your contact information out there, René, so they can reach you for their specific circumstance.
If you’re looking to part with your investment property, René can help you make the most from your property’s sale. Schedule a 15-minute discovery call to better understand your investments and the market today.
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