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Calgary Rental Property for sale

kirkkimberley

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Mar 13, 2010
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I am a Real Estate investor and 'Flipper' in Calgary. I am not yet a REIN member.

I am selling one of my rental properties. Here are the details:

Here are the details:
City Assessment: $236,500
Appraisal: $235,000
Current Long Term Tenant (Doctor)
- Pays rent on time, sometimes 2 months in advance
- Pays $1,500 rent
- Tenant pays utilities
- Condo Fees: $328

Question: What asking price would you present to another Real Estate investor for?

Thank you,
Kirk
403-690-3447
 

Thomas Beyer

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Aug 30, 2007
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I'd say sell for slightly - as in 5-10% - less than $235,000 as you could keep property vacant, renovate ( if ugly ), stage perhaps and sell for $235,000 to an owner.

So say about $215-220,000 as it would net the same to you, more or less.
 

kirkkimberley

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Mar 13, 2010
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I'd say sell for slightly - as in 5-10% - less than $235,000 as you could keep property vacant, renovate ( if ugly ), stage perhaps and sell for $235,000 to an owner.

So say about $215-220,000 as it would net the same to you, more or less.

Thanks, Thomas.

I actually did a full renovation last year. Everything is brand new inside.

I want to sell it as an investment property, and not disrupt the tentant. I also don't want to list the property, and scare the tenant. Any suggestions? Where is my market of buyers for this?

Thanks,
Kirk
 

kirkkimberley

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Mar 13, 2010
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List here in myreinspace or via an investor oriented realtor.

Is this a condo ? Or a TH ? Old / new ?

Why sell ? Where can you invest and make a better risk-adjusted return ?

Why not refinance ?

More on this agony here http://blog.reincanada.com/sell-or-refinance-the-agony-and-the-ecstasy

I can do more with the equity in the property by taking it out and investing it, rather than watching the Real Estate market in Calgary decline for the next year or so..... The LTV is at 75% already, so I cannot refinance.
 
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