Comments on: The would-be, could-be landlord. http://www.iboughtaduplex.com/general-day-to-day-landlord/the-would-be-could-be-landlord.php "Are you sure you can handle managing something like that?" Well, there's one sure way to find out... Thu, 01 Jul 2010 01:38:07 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: Christopher Smith http://www.iboughtaduplex.com/general-day-to-day-landlord/the-would-be-could-be-landlord.php/comment-page-1#comment-19531 Christopher Smith Mon, 03 Dec 2007 19:40:45 +0000 http://www.iboughtaduplex.com/general-day-to-day-landlord/the-would-be-could-be-landlord.php#comment-19531 Buyers are in great shape during a buyer's market. Sellers are hurting. Your friend is a buyer and a seller - so he should just about break even. If he reallly did get a $500k house for $300k then it's because of the lousy market. The smart move <i>might</i> be to price the house he's selling so that it gets some showings and generates some offers. This wouldn't be a discount - per se - it would be pricing it at the actual market level. He's gonna give up some of that $200 windfall but hey, when you're buying <i>and</i> selling in a buyer's market the knife cuts both ways. Buyers are in great shape during a buyer’s market. Sellers are hurting.

Your friend is a buyer and a seller – so he should just about break even. If he reallly did get a $500k house for $300k then it’s because of the lousy market. The smart move might be to price the house he’s selling so that it gets some showings and generates some offers.

This wouldn’t be a discount – per se – it would be pricing it at the actual market level. He’s gonna give up some of that $200 windfall but hey, when you’re buying and selling in a buyer’s market the knife cuts both ways.

]]> By: Terry Sprouse http://www.iboughtaduplex.com/general-day-to-day-landlord/the-would-be-could-be-landlord.php/comment-page-1#comment-19079 Terry Sprouse Fri, 09 Nov 2007 10:08:03 +0000 http://www.iboughtaduplex.com/general-day-to-day-landlord/the-would-be-could-be-landlord.php#comment-19079 I agree with your observation that it seems like a perfect opportunity to rent the house out. I am in a simlar situation with a fix-up house that I purchased to live in, repair, and sell. But with the market as it is, the best option may be to rent it out. The question is, why sell at a low price when we can just hold it for awhile, collect rent and sell it for a higher price in a year or two? On the other hand, my original plan was to use the cash from the sale of the fixer-upper to help pay for the next house. Therein lies the dilemma. I agree with your observation that it seems like a perfect opportunity to rent the house out. I am in a simlar situation with a fix-up house that I purchased to live in, repair, and sell. But with the market as it is, the best option may be to rent it out. The question is, why sell at a low price when we can just hold it for awhile, collect rent and sell it for a higher price in a year or two?

On the other hand, my original plan was to use the cash from the sale of the fixer-upper to help pay for the next house. Therein lies the dilemma.

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