I've got a question for you if you don't mind my asking. Did you manage to sell the building on Loopnet on your own? Or did you contract a real-estate broker or firm to do that for you?
I've never listed any properties myself on loopnet, but I've used it to find properties. Loopnet is great for vacant land or buildings, but not so much for an operational business.
Would you advise a total noob to sell a property that's worth about $750,000 on loopnet on my own without any assistance?
I am thinking of following your suggestion at this point - find the buyer myself and contract an attorney to draft the final sale contract.
Thanks again!
I am thinking of following your suggestion at this point - find the buyer myself and contract an attorney to draft the final sale contract.
Thanks again!
Well, the first time I did this I was a total noob, and I had no idea what I was getting into. The reason we pay real-estate agents and brokers the big bucks is because they save us a lot of due diligence, and can protect us from losing money. I will say that this type of an approach is less risky for the seller than the buyer, usually.
One option that you might want to keep open is to sell the "Motel Business" while retaining ownership of the property itself. That way, someone else is running the business while you get passive income from the lease. Also, you may have an easier time convincing a tenant to pay you in bitcoin by putting it in the lease agreement.
