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Question
Greetings
I have 3 homes I am renting out in the U.S. Virgin Islands that have a really good cash flow and I am thinking about putting them up for sale. They are all in the same area and one has a nice view of the water. I am having a hard time with the market and don't want to give them away BUT I am ready to move forward and need to bite the bullet and move on. Can you suggest the best way to market them with out paying a huge fee to a realtor? I also don't want to loose the tenants when the news they are on the market.
If you know anyone interested I could put together a clean package deal where they could live in one and rent the other two.
Thanks for any input you may have.
Robert
HEY ROBERT--
I'd have to know a whole lot more about these properties than that they're all three in the U.S. Virgin Islands and one hs a pretty good view of the water in order to suggest any kind of "Marketing Plan" for you!
First I'd need to know which of the Islabds your houses are on, St Croix,St John, St Thomas--or Water Island or some of the other minor Islands of the archipelago. Are they all one one Island or are they one on one Island, one on nother, etc?
Are they "High End" Homes, that is homes that sell for $250,000 or more--or are they "Affordables," that can sell for $100,000 more or less.? Are they "primitive" houses or "semi-luxurious?"
What's the Real Estate Market on the Islands llke; is it a Buyer's Market, a Seller's Market or s it "Neutral?" Your EXPERT/CONSULTANT needs to know the answers to all of these questions.
An out-of-town out-of state, out-of country "EXPERT" like me can't really help you.You need a "LOCAL" Realtor to look at what you've got to work with and design a Marketing Plan that will
help you "move on.". As for the "HUGE FEE," you can negotiate for a smaller fee and a BONUS to the Realtor IF his/her Marketing Plan gets you what you want within a certin time period. Don't be afraid to negotiate. A Realtor's fee is NOT a FIXED fee, but one that can go up or down as the deal between Buyer & Seller is made!
Try AMERICAN PARADISE Real Estate Services on Sr. John. Call 1-888-757-7325.Give the Agent as many of the details as you can about what you own and what you want to do with it. The phone call costs ZERO. If you like what you hear,think you can work with the Agent, you should be able to suceed in "moving forward."
GOOD LUCK!
--JIM
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Jim Root
Expertise
How to select the right Real Estate Salesperson & Loan Officer--ones who will serve your best interests! House-hunting tips & suggestions on selection of the home best for your family needs. Introduction to the Home Buying Process & all the "Players" involved.What is of utmost important to the Homebuyer? Real Estate Contracts & Negotiations, Appraisal needs, Title Co. involvement, Home Inspection issues& the Closing/Escrow systems, etc. Whatever your question, the answer will follow, whether from personal knowledge or research! Gale, shown here with me, has been a Real Estate Office Administrator, licensed Realtor & has served as my Research Assistant over the years!
Experience
Over 30 years as a "Real Estate Professional." including Real Estate Marketing & Sales, Appraisal work, Mortgage Banking & as a Realty Officer with U.S Dept. of HUD's FHA Homeownership Division in Alaska, Washington & Idaho! Some experience in Montana, California, Utah & Nevada markets!Knowledge of National Markets by continuous Research!
Organizations
Former member of Nat'l Ass'n of Realtors (NAR) & Mortgage Bankers Ass'n of America (MBAA). Currently with National Association of Review Appraisers & Mortgage Underwriters (NARA/MU).
Publications
Published in various local, state, regional & national Real Estate-related magazines & newsletters!Co-author of various Govt. publications on Homeownership, Appraisals & Mortgages while with HUD/FHA.
Education/Credentials
Associate Degree in Real Estate Studies plus:
Numerous Real Estate-related Courses conducted by the U. S. Government & Private Industry over the past 30 years.
Bachelors Degree in Mass Communications,
Masters Degree in Education/Teaching
Awards and Honors
Professional Designations: Certified Residential Originator (CRO) from MBAA, Registered Mortgage Underwiter (RMU) & Certified Review Appraiser (CRA) from NARA/MU. Outstanding Peformance Awards for 10 of the 12 years with HUD/FHA & numerous Sales/Listing Awards while a licensed Real Estate Agent.
Past/Present Clients
No longer selling/listing Real Estate, nor Appraising properties, nor working in the Mortgage business, this "Real Estate Pro" serves as Director of a Company that provides Professional Development Seminars & Workshops to the "Real Estate Industry" and provides free (as needed) & fee-paid (on a sliding scale) consulting & inspection services to members of the general public.Your questions will be answered without "salesmanship" & with your best interests in mind!
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