Owning a rental property is an excellent investment. It is a great way to make extra income and build your retirement. However, with every good thing, there can be ugly factors as well. If you find a great renter, then you may never run into any problems with the condition of the home. However, often those who rent are more likely to treat the house poorly, as they have no obligation for keeping it nice.
The Financial Samaria, Sam Dogan, said about the emotional toll that having a renter can give you, “I make a self-assessment of where my stress comes from and how that matches up with my cash flow and assets. I found that most of my stress comes from managing rental property, yet my rental property wasn’t my top semi-passive income earner. Therefore, it wasn’t wise to be so weighted toward a rental property.”
If you find yourself left with only the walls of the house, then maybe you should consider a way to sell your damaged rental property.
Determine the Damage to the Home
Identify the extent of the damage to the home by asking yourself these questions.
- Is the home going to cost more than it’s worth to fix up?
- How much time will the repairs take?
- Can you afford to make the payments during the vacancy of the home?
Once you have considered some of these questions, you may feel overwhelmed. The good news is that you can sell your home as is, even with severe damage.
What Are My Selling Options?
If you have come to the conclusion to sell your home in Albuquerque, identify the different ways of selling it. There are a couple of traditional ways to sell a home.
- For sale by owner
- Hire a real estate agent
Selling using either of these ways can be difficult to find a buyer, especially for a damaged rental property. It is possible though, but you may need to sell your home for a lot lower than you may be able to afford. Most buyers will envision a home costing a lot more in repairs than it’s worth, so in order for someone to see the potential, they are going to offer you a lot less than the asking price.
Sell to a Cash Buyer (Us)
Now you’re thinking, “repairs aren’t in my future, no one wants to rent my house, and I don’t have the money to fund this house while it’s sitting vacant. So now what?”
Sell your damaged rental property to us, we will take it off of your hands and free you from this nightmare. If you have any questions about why selling to a cash buyer is the best way to go, then call us today at 505-227-8865. We are here to help you and take this damaged rental property off of your hands. The process is fast, easy, and painless.