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I have a legal two family home with a finished basement in Queens, NY.
I have been advertising it in all of the websites I can think of and with the multiple listing service for my area, but I really want to reach out to landlords because the property could pull in a lot of rental income for a new owner.
Can anyone suggest how I can get the attention of landlords looking for a legal two family home with finished basement in a good neighborhood of NYC?
im not sure why you would be looking for a LL. Do you mean investors? You f you're looking to sell to a investor I advise you not to. Investors are not going to pay going rate. They want it cash and cheap.
I am not a landlord.
The property would be good for a landlord to buy because it is very rentable.
Most of the people answering my advertisements are looking for a single family house.
I would like to know how to get my advertisement to landlords looking to buy a property to rent out.
Are you advertising it for rent or for sale? Potential landlords/ investors aren't looking for rental properties. If you want to sell it; get yourself an agent and list it.
I have a legal two family home with a finished basement in Queens, NY.
I have been advertising it in all of the websites I can think of and with the multiple listing service for my area, but I really want to reach out to landlords because the property could pull in a lot of rental income for a new owner.
Can anyone suggest how I can get the attention of landlords looking for a legal two family home with finished basement in a good neighborhood of NYC?
TIA
Quote:
Originally Posted by PropertyAvailable
I am not a landlord.
The property would be good for a landlord to buy because it is very rentable.
Most of the people answering my advertisements are looking for a single family house.
I would like to know how to get my advertisement to landlords looking to buy a property to rent out.
You are going to get all sorts of people answering your ad who just can't or don't read. So if you are specifically advertising it as a "2 Family Home" that should be enough to indicate to readers that it is a rental property and then you will just have to weed out the responses you get who didn't read the ad. If you can go further than that on a listing site that has an area for "rental properties for sale" then that would be the route to take or just state "2 Family Rental Home For Sale" in the header of your ad.
It would be too difficult to find a way to specifically target "landlords" because people who are interested in property to buy for rental use are not necessarily already landlords. There are many people out there that are looking to purchase a property for rental use their very first time and then there are perhaps current landlord owners who are not interested in anymore rental properties.
I say just stick with the way you are advertising it now with using any of the possible tweaks mentioned above. And most potential buyers out there are not looking for rental properties to buy so the odds are with you that you will get a lot of people responding who don't read the ad very well and just go by the overall price if it is in their range.
Trust me, even those of us who are LLs/PMs get an enormous amount of people who either don't read the rental ads or question every little thing that is already posted in an ad and/or don't come close to qualifying even if the requirements are posted right in the ad. It is just something you have to accept when posting any ads and you just have to deal with it.
I do have an agent. We have both been getting responses from folks who do not read the ads carefully.
I will contact the "we buy land" folks. I guess it can't hurt to inquire.
I will try adding some of the phrases suggested, to catch the attention of folks who would want to rent it out.
I have not seen areas specific to rental properties on the websites other than to target potential tenants, but I will revisit all of the websites and look again.
I do have an agent. We have both been getting responses from folks who do not read the ads carefully.
I will contact the "we buy land" folks. I guess it can't hurt to inquire.
I will try adding some of the phrases suggested, to catch the attention of folks who would want to rent it out.
I have not seen areas specific to rental properties on the websites other than to target potential tenants, but I will revisit all of the websites and look again.
Much appreciated.
I'd suggest your realtor rewrite the ad. Is this property on the MLS? If so, and you're not getting showings and offers, it's probably priced to high and/or you've hired a crummy agent.
I am not a landlord.
The property would be good for a landlord to buy because it is very rentable.
Most of the people answering my advertisements are looking for a single family house.
I would like to know how to get my advertisement to landlords looking to buy a property to rent out.
Like the other poster advised.....LL will likely want to low ball you. But, if you want to catch the eye of an investment buyer....Somewhere in the listing put the words "investment multi-family property" Or, sell it by owner with those words.
Otherwise, make sure your realtor explains that lookers should be made aware that it is a multi-family property.....not a single family property. It sounds like the advertising is not making it clear that it is multi-family.
Will the property result in a positive cash flow if it's rented? If so, use the words suggested in other posts so it's clear it's multi-family and use the words "positive cash flow." That will attract attention.
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