My rental property is STILL for sale!

Posted on 18. Jun, 2011 by in Landlording Rants, Listed Properties, Real Estate Agents, Real Estate Investing

My rental property is officially pissing me off. It’s been for sale since November 2010.

I have it listed with a realtor (my father to be exact.) It’s had exactly 2 people through it. 1 said it was priced right. 1 said it was priced too high.

New carpet, new paint, it’s just in new-ish condition we’ll say. Started at $99k, then dropped it like 15k, now down to $72k.

Welllllllllll I’m at my wits end but this evening I was talking to a friend of mine, Bill Walston from BillonBusiness.net, and Bill said “why don’t you do a 3 yr. lease option?”

Now folks, I’ve done lease options before. I am very familiar. As a matter of fact, I’ve done a lot of different types of deals since 1999 when it comes to real estate investing.

So, why is it that 7 months after my property has been listed that I am just NOT thinking of doing a lease option on my property because Bill brought it up tonight?

Ridiculous huh? I think sometimes I get really “whacky” when I’m dealing with a property of mine personally. And I suddenly forget everything that I’ve learned in the past oh gee, 12 years! lol

I may have thought about a lease option and nixed it because I just want to be 100% done with the property, but the truth is, I think Bill is right…..I think the lease option is my best bet right now cuz guess what?

Carey don’t like shelling out hundreds of dollars a month for NADA!!!! Thanks Bill, you’re the best!

P.S. Don’t worry, I’ll keep ya’ll posted on my new idea of lease optioning my rental property out. Kathy and I discussed it this evening and she’s all for it! I’ll break the news to pops Sunday (yeah, yeah, I know it’s father’s day, but come on I need to get rid of this thing!)

P.P.S. Remember, if you’re interested in making passive income by starting your own ATM Business then you should sign up for my free video training series!

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2 Responses to “My rental property is STILL for sale!”

  1. AnotherSteph

    19. Jun, 2011

    Hi Carey!
    Keep us posted on the rental property status. I hope when you switch gears you can easily a lease option buyer.

    Take care!
    Steph

  2. Carey

    19. Jun, 2011

    Thanks Steph! Well I spoke to my dad today since I was there for father’s day. He just moved real estate offices and the property isn’t even listed anymore. He thinks it will definitely sell at $72k….so I signed a new listing agreement with him today expiring 7/31/2011 and he said I can try to advertise it anyway I want and he’s fine with that (which of course I knew he would be…..he’s my dad after all lol)

    Fingers crossed that it actually sells though instead of me having to L/O it.

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