BEST ANSWER
The first consideration any realty buyer will look at is the asking price for the property. I would recommend that you determine a market price calculated by accepted analysis measures. One of these is to get a Competitive Market Analysis. Competitive means that you obtain sold prices for homes as nearly similar to yours that are located within a reasonable distance of your property and that have been sold in the last six months. If you can't find homes that fit your criteria that have sold in 6 months, try 12months, etc. Another method would be to obtain the Tax Appraisal Value for your property. Normally, this amount would be less than it's market value. of course you have to look at your existing investment dollars, and possible cosmetic improvements that would help sell the home to arive at your final price.
Investors look for rental investments that will throw off $xxx.xx as profit/per/month after paying the cost of ownership (mortgage, taxes. insurance, maintenance). This could be a factor you should consider in pricing your home. Prospects for appreciation are considered too. However, predicting appreciation is more difficult today than in times past.
The investor contacts, the WEB, classifieds, hotlines and talking houses which I use in marketing homes will find the buyers. But, determining the asking price (starting point) is the single most important task taken to attract investors to your property.
Sun Jul 19 2009, 10:02