Home Selling in 93314>Question Details

Djrizzo, Home Seller in 93314

How would I find someone to purchase my 50% of a rental property?

Asked by Djrizzo, 93314 Sun Jul 22, 2012

I own it with my brother who doesn't want to sell, and I simply don't want the time and trouble anymore...especially after becoming disabled and moving 100 miles away. It's a nice upper class home grossing $1,750/mo, netting around $1,300.00. Do investors purchase percentages? Where would I find one?

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Answers

3
You will have to have taken title in both of your names as tenants in common in order for you to sell your portion. If you need any assistance, give me a call.

http://www.Under640FicoScoreLoans.com
http://www.FrankandSheryl.com

http://www.under640ficoscoreloans.com/Pages/ContactSheryl.aspx
Sheryl Arndt, Broker – Loan Officer
DRE# 01440252
NMLS# 297251
760-486-4225
0 votes Thank Flag Link Sun Oct 21, 2012
I might be interested. rdunn1@san.rr.com
0 votes Thank Flag Link Fri Jul 27, 2012
Well, I hate to say it, but you're not going to.

The problem is that they're not just buying 50% of an investment, they're becoming equal partners with your brother, who is a stranger. Plus, they'd have to come in with cash or an unsecured note - your brother probably doesn't want a stranger to mortgage the property as a means of buying you out.

You are better off working something out with the brother - hiring a property manager, selling him your share on a note, something, anything other than wait for the needle to show up in the haystack with a light shining on it and a little bell signaling its presence.

All the best,
0 votes Thank Flag Link Sun Jul 22, 2012
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