Best and Fastest way to sell a Small Apartments Complex that has very high cap rate in Ohio

not really looking for broker,but would like to sell these small group,that has GREAT cap rate and POSITIVE CASH FLOW,Owner is NOT willing to finance
In Selling Property - Asked by lynn v. - Dec 31, 2009
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Answer(s)

Eric H.
Owner/Investor
New York, NY

Hi Lynn v.
I'm guessing other investors have other options too. This comment may get the process started
This may or may not be the best and fastest way, but what if you formed a syndicate for investors who would purchase this property? There are many people who want higher returns than from a bank.
Another option is to market for qualified buyers. This is probably faster and easier. Put ads on Craigslist, Linked in, Facebook and other sites and keep track of all those leads with a sales lead manager. Call those leads and find out what they want in terms of price, property and location.
Its about finding the money. Call mortgage companies and ask them what deals they will finance. Ask them who qualifies for such this mortgage. If its commercial, its all about cash flow.
If you have an exclusive right to sell the property for a while, the property owner may become more motivated as the property doesn't sell. Find out what they really want out of the deal. They may become more motivated as time passes. When they are be ready, but don't move too hard or fast.
Eric Hiltner akaphrates@hotmail.com

Jan 1, 2010
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James S.
Owner/Investor
Cabarete, PP

You could hire an experienced real estate attorney to help you with the documents and process of a sale and then list the properties on LoopNet. The problem may be that you will get a lot of inquiries and not have the experience to weed through them to know when someone is seriious and waste a lot of time and incurr much agrivation. Since you have a group of smaller properties prospective buyers may have some trouble with financing???
My advice is to hire a lawyer to help and move forward. If you have a full time job or other interests that take up a lot of your time, I would recommend listing it with an experienced broker.

Jan 13, 2010
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Chris S.
Broker/Agent
Coeur D'alene, ID

Tough sell anywhere ...
A GREAT cap rate for most investors today would be at least 12%. All these bogus single digit cap rates have blown away years ago. If you do really have a GREAT cap rate, I still think a broker is going to be your best bet. They have the access to interested buyers and they already pay for access to all the listing websites and such.

Jan 22, 2010
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Gregory G.
Broker/Agent
San Francisco, CA

Have you sold yet? I have a buyer.
Gregory Garver - Commercial Real Estate Broker
Broker License# 01716531
(415)225-9894
gregory.garver@gmail.com

Mar 5, 2010
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