Is Selling My Problem Rental Property The Right Move?
Written by Chris Logan on October 4th, 2017
Owning a house is a great investment, providing of course that everything works the way you plan for it too. Unfortunately in the real world things rarely go as planned, and what started out as a great investment may quickly turn into a major headache.
In an ideal world, you would have great tenants that paid the rent on time and took care of your rental property. This would then allow you to make a little cash each month, while also building long-term wealth while the rent money the tenant pays is used to pay the mortgage on your rental property. But since things don't often work as planned it's important that you have a contingency plan in place should owning your rental property become more of a headache than it is worth.
Two Major Reasons That Selling The Property Is The Right Move To Make.
One of the main concerns you will have when you own a rental property is dealing with tenants that don't pay the rent. When this happens you have to start eviction proceedings, which could take a good amount of time. During the time it's not like the mortgage company will wait for their money, so you'll still have a mortgage to pay even though you won't have any rental income. Once you finally get the court order that is needed and you get the tenants out, now you have to deal with whatever mess they have left you. In many cases when a tenant is evicted they will leave the property in a mess, and they will often cause a lot of damage to it as well. So now you have no rental income, have a mortgage to pay, and on top of that you have, to spend a lot of money getting the rental property cleaned and repaired. Ready to sell yet?
Another good reason you may want to sell a rental property is if you don't live near it. Maybe you moved away recently, or maybe you bought a property in a different region because you couldn't pass up on the price. In either case trying to manage a rental home from a distance is a major hassle in many cases. Chances are that you won't be able to deal with collecting rent and doing maintenance, which means you will be paying a property management company to do so. Paying a third party to manage your property can get expensive, and in fact, it may end up costing you so much that you end up losing money on a monthly basis.
Selling To A Cash Buyer Is The Quickest Way To Sell A Property!
If you have made the decision to sell your rental property, then finding a cash buyer is the quickest way to unload it(If you'd like to know about the benefits of selling to a cash buyer, check out our article). If you want to close in a few days and are just done with dealing with it, then a cash buyer can help you to cash out and get away from the headache. If you are ready to sell your rental property and want to get a fair offer, then Rise Real Estate Group should be your first call. We specialize in making cash offers on houses, and we can help you by taking your problem rental property off of your hands!
No matter why you want to sell your house fast Rise Real Estate Group can help. We specialize in buying homes for cash in "AS-IS" condition. Once you contact us, a member of our team can help you with everything from start to finish, making the sale as easy as possible for you. Don't worry, you won't be pressured or rushed and you can sell on your own timeline at your convenience. Once we agree to buy your house you can take a breath and rest easy. Contact us today and finally experience what it's like to Sell Happy :-). We look forward to working with you!
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Rise Real Estate Group is Tampa's #1 home seller resource. Having been in the community for the last several years they have been able to help hundreds of homeowners sell their house FAST for CASH. Need to sell fast? Click the link below now, enter the requested info and they will get back to you within 24 hours or less!
Rise Real Estate Group is Tampa Bay’s premier local home buyer. Whether you are going through a divorce, inherited property, filing bankruptcy or even behind on taxes – we’ll help you out of your headache, work on your timeline and give you CASH for your property so you can move on from your unwanted property with peace.
About Author: Chris Logan
Chris Logan is the co-founder of Rise Real Estate Group. He is happily married, Christian and also a fitness buff. When he's not flipping houses, he and his wife Heather enjoy volunteering with their church and traveling.