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What if your investment property isn’t cash- flowing?
It might have seemed like a great idea at the time. But, if a neighborhood goes downhill, you’re sinking a load of money into repairs, or you can’t get reliable tenants, selling an investment property that isn’t cash-flowing suddenly becomes very enticing.
There are many ways you might have landed in this predicament. Buying an investment property to put aside some extra money for retirement or your kids’ college fund might have kick-started it all. But as the reality has set in, you’d do anything to get out of owning your investment property that isn’t cash-flowing and is becoming a major source of stress in your life. Some of the more common predicaments include:
Common investment rental property problems
- Bad tenants. A rental property nightmare begins with renters who don’t pay. This will eventually lead you to initiate the eviction process. Or those who damage appliances, fixtures, walls, yardwork, or anything else associated with the property can also take a wallop out of your pocketbook.
- Not being able to find tenants. With low-interest rates on mortgage loans and home prices still relatively low, the market is starting to pick up and more would-be renters are buying. Or perhaps your property is in a neighborhood that has suddenly become riddled with a crime or has become an undesirable place to live.
- Bills. You didn’t realize how much tax, utilities, and insurance would cost you. Even with renters, you still aren’t making money.
- Poor Investment. Perhaps you purchased the property with the hopes that the value would appreciate and you’d be able to sell it for a profit. That hasn’t happened and you can’t afford to keep making payments, even with good renters.
Whatever the reason, you may want to forego the lengthy and expensive process involved with hiring a traditional real estate agent to sell your investment property.
Options for selling an investment property quickly: Real estate investors
Many tired landlords choose to sell their properties to a quick home buyer like We Teach Houses.
We offer a free estimate. Once you decide to proceed, chances are we will buy your home as-is. You won’t have to delay the nightmare by having to take care of any costly repairs that might be needed. And you won’t have to worry about a lengthy closing time – we’ll make it quick and painless.
Another benefit is the extra money you’ll save by choosing a real estate investor over a real estate agent. Going with a real estate agent typically involves:
- Commissions and sales discounts
- Title, closing, and survey costs
- Holding costs over the average six to nine months that the house is on the market. These include taxes, insurance, yard maintenance, mortgage payments, and utilities.
We’ll start by determining the value of your home. We’ll come up with the price based on what it would be worth AFTER repairs are completed. We then deduct the cost of repairs, holding/selling costs, and profit.
Once we gather the required information, we’ll meet with you and view your home. From there, we’ll discuss your options for selling your investment property. If we’re able to help you, we’ll discuss price, the contract, and the closing date. We quickly take care of title work and inspection and before you know it, you’ll have cash in hand.