Multifamily Homes

Sell Your Multifamily Fast

Do you have a multifamily property you’d like to sell fast? Jolific Properties buys multifamily properties of any size in Virginia, Georgia and the Carolinas.

So, regardless if you just want to sell it to get the cash-out or if you’re in a tough situation and need to sell fast, we can probably help.

HOW IT WORKS​

We’ve made the process very simple and straight forward, with absolutely no stress or pressure along the way.

  1. First step is to gather information.  We will need to know the current rents, vacancy rate, Net Operating Income, repairs needed, additional sources of income (ie paid laundry, RV hookups) and monthly expenditures.
  2. Next, call or email us.
  3. After that, we’ll do our research and put together an estimate of the value of your property based on the information you provided us.
  4. We’ll then decide how to move forward in the purchase of your multifamily property.

When is The Right Time to Sell My Multifamily?

The time to sell your multifamily property is a very personal decision and it depends on a number of factors. The biggest factor to consider is what your plans are moving forward.

Generally, the primary reason a person sells their rental property is they want the cash from the multifamily sale to use elsewhere. It could be to buy more property, pay off debts, pay a spouse in a divorce, etc.

Should I Sell My Duplex, Triplex, or Fourplex?

Selling a duplex, triplex, or fourplex multifamily property is a bit different than selling an apartment building. The biggest reason is that 1-4 unit rental properties are priced based on the value of nearby 1-4 unit properties. A larger apartment building is priced based on the income it produces.

Because of that, the time to sell your triplex, duplex, or fourplex is dependent on the current values of nearby properties. As such, the timing to sell could be different.

Additionally, these types of properties are generally owned by individuals rather than professional investors, so you may run into a variety of other reasons that could force you to sell, for example, divorce or death.

Should I Sell My Apartment Building?

The decision to sell your apartment building really comes down to if you’ve met your profit goals and if your money would be better allocated to a new investment.

Generally, if you’ve owned an apartment building for 5-7 years or more, you’ve maxed the return potential of this property and it could be time to sell and allocate to a new asset.

This rule generally holds true because you have already done the upgrades you plan to, you have pushed the rents to where you want them to be, and there’s limited growth potential based on your current operations.

Therefore, it could be time to allow a new owner to come in with new capital to continue bringing the property to it’s highest use.

Selling Due to Extenuating Circumstances?

If you are having an extenuating circumstance, selling your multifamily rental property may be more of a challenge. You may need to sell faster, may not be able to afford repairs or any number of other factors.

Don’t worry, we have you covered with that as well. The first thing we do is assess your entire situation. If we can find a way to keep you in your property and solve whatever problem you’re facing, then that’s what we’ll suggest.

Sometimes just looking at a problem with a different perspective or from someone with more experience can open up doors you didn’t even know existed.

Selling Your Multifamily Due to Divorce?

You need to sell your rental property quickly because of divorce, I get it. You want to get this ordeal over and done with and put it behind you as fast as possible.

We can help with that. We can work a deal that benefits you as much as possible while still helping you move forward with your divorce quickly.

Selling Because You Inherited a Property You Do Not Want

You love your parents or grandparents, but maybe you don’t love their house. Perhaps you live in another city or even a different state and have no intention of ever living in the area again. Another thing that causes people to sell fast is to cover funeral or other estate expenses.

Need to Sell Fast Because of Foreclosure

It happens. Losing a job or getting injured so you can’t work can be frustrating, but it happens. Unfortunately, these temporary situations can cause lifelong problems for you because foreclosure is a permanent mark on your life story and credit report.

Fortunately, if you unload the property before the auction date then the bank never technically foreclosed on your property. You can save your credit from a permanent mark.

Don’t let the bank take your property and have it sit there for months before they decide to sell it. Sell it today!

Selling Your Apartment Building Due to Bad Tenants?

Sometimes the tenants create so many problems you just want to throw your hands in the air and walk away.

The problem is, it’s hard to sell a property with problem tenants. Very few landlords want to deal with that headache either.

Fortunately, we are problem tenant experts and can make you an offer even if you have the worst tenants in town.

LET us buy your HOme NOW!

We at Jolific Homes are looking forward to hearing from you.

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