How To Sell A Rehab?
Made 1st real estate deal. Bought a foreclosure that had been on mkt way under market value. Rehabbed it and now ready to sell it.
Now I am frightened of the unknown--I am now concerned that if the house did not sell before, what makes me think I can sell it now after a rehab? It has new carpet, int/ext paint, new appliances, new tile, etc.
Any suggestions on how to sell the house quickly--should I go with real estate agent or FSBO? Really wanting to get my money out of the house rather than do the owner financing. 
Its always helpfull if you can post where your property is so you can get some advise on ways to sell the house. So is it in the city, country, suburbs? Also what state. There are different ways to sell depending on where you are.
There are plenty of ways you can sell it. One way, is to price under the other houses in that area. Not a deep deep discount, but one deep enough to make a difference. If you bought it ata discount and didn't overimprove, you can afford to sell it at a slight discount.
Is the house located in a good area where properties sell fast? That's a key one right there. Also, you can owner finance, that's another way to move the house. You won't get all your money upfront, but you can afford to sell it higher with a higher interest rate. You'll have a second mortgage (which is an asset and you can borrow money against) or you can sell the note at a slight discount to another investor. You can also offer to help pay buyer's closing costs.
Also, you can lease option it or just plain ole' rent it out. There several ways to get a house moving. But the main way is "patience." It'll happen, just do what you've been doing, be "creative."
realtor is your first start, as long as it is not in the high dollar market, you should be able to move it. I hope you factored holding cost in it.
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Now I am frightened of the unknown--I am now concerned that if the house did not sell before, what makes me think I can sell it now after a rehab? It has new carpet, int/ext paint, new appliances, new tile, etc.
this could be precisely the reason it didn't sell before. could be mold, could be deemed uninhabitable, could be in warzone, could have too many liens on the property, could just have no curb appeal ... a whole list of stuff.
just fsbo it at a fair price and someone will take it no matter where it is. good luck!
This home is located in Texas in Greenwood Forest, a good neighborhood closing to Champions golf course. Comps in the area are selling for $149,000-$165,000. The house has no liens but had been neglected. Now it is newly remodeled. This property is located in residential with great school district. We built in a 3-mo. holding when we purchased the property.
excellent, then you should be ready to roll! advertise that bad boy and watch it fly off your hands.
good luck.
It's amazing what a bit of spit and polish will do to a property. Maybe the house didn't sell before because it was shabby and neglected.
If it's all spuced up now and priced right, or slighly below market, it should fly off the shelf.
Best of luck to you
I agree with first trying the FSBO way.
Put up a few signs, add in the paper, tell everyone you know.
Then have everyone meet you there at the same time on the same day. People hate to lose when in competition. Tell them you will accept bids and see what you get.
I would make the realtor my second choice.
Try to find one that will discount his/her fee since you will be doing more houses through them in the future.
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Here is our suggestion on marketing: "Greenwood Forest: Perfect family home, great schools, newly remodeled, we help with your down payment, and you bring the balance, fast closing $169,900 312-555-xxxx"
or
"Investors let's write it up! Greenwood Forest: 3/1.5, newly remodeled, vacant, bring your tenant, FMV $160K FMR $1,200/mo All cash deal $143,500 firm 312-555-xxxx"
Eric & Rosa
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