3 Signs It’s TIME TO SELL Your Rental Property

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Whether this was once your primary home or you inherited it after a relative passed away, having a rental property can come with numerous benefits. This does, however, depend on what the situation looks like. It’s possible to have a rental property that’s lucrative and easy to manage one year then find yourself with a money pit the next.

If it’s been years since you last saw positive earnings from your rental home, you should consider selling. A good real estate investment looks vastly different than a home with one too many repairs whose current dwellers are making them worse! In addition to not earning the money, you should be from monthly rent, putting money into the home could wind you in the negative.

So if you’re experiencing any of the following, consider selling your home sooner rather than later:

1. Your Rental Property’s Finances Are Always In the Negative

This reason alone should be why you act fast. A rental property should bring you consistent POSITIVE cash flow. When you’re consistently having to chase down the tenants or you find yourself forking out your own money to cover the needed repairs, this can’t be good. Monthly cash flow includes your income on the rental as well as the expenses. These two should leave you with positive income. If the rent isn’t consistently covering the additional expenses, this will hurt you. You might think a month or two of paying out-of-pocket expenses is okay but once you go past that, you will only be damaging your finances.  

2. It’s Located in a Less Than Desirable Area

El Paso’s real estate market is changing. It is one of the top cities to buy a home and yet there are areas that aren’t necessarily seeing those benefits. The reason? Unfortunately, with new development, potential buyers are flocking to areas with newly-built homes. Another possible reason your rental home isn’t seeing traction since the margin of renting vs. buying is so close, many are choosing to buy vs. rent. From a financial standpoint, even renters are looking for the best way to invest. This means finding a home that’s a)for sale and b)located in a new development area. Of course, this isn’t always the case but it may be for your rental property.    

3. Managing it Feels Like a Full-Time Job

The purpose of owning a rental property is to bring in additional income. If this isn’t your primary source of income but it feels like a full-time job, then something may be wrong. From receiving calls from the tenants while you’re at work to spending countless weekends making repairs, the time you devote to the rental property shouldn’t drastically overlap with your professional and personal life. Moreover, if it’s affecting your health in the sense that you’re stressed and consistently worries—this can’t be good.

Ready to Make a Positive Change?

If you’re ready to rid yourself of a rental property that’s no longer worth your time and effort, then consider selling it for cash. At El Paso Cash Home Buyers, we buy rental properties in any and all conditions. With the cash we give you for your property, you’ll be able to use it towards your own home or invest in something else for that matter. Our cash offers are competitive and we’ll even beat another competitor’s legitimate offer. Connect with us today to learn more!

Do You Need a Fresh Start? When To Consider Selling Your Home

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The reality is, the majority of Americans live paycheck to paycheck. On top of paying the bills that come every month such as the mortgage, electricity, water, and other personal needs including groceries and hygiene products, we still have other bills. It could be the credit cards we used to buy furniture and Christmas gifts, a car payment, student loans, something we financed, and essentially this list of additional bills can go on and on. Carrying debt means that not only are we living paycheck to paycheck but essentially we’re taking on additional debt in the form of interest that won’t go away until the account is paid in full.

It’s no surprise that the desire to start all over again is alive in so many of us. We’ve all made mistakes with money even if it was as minor as buying the wrong pair of shoes that we can no longer return, the feeling of defeat is something we’ve all experienced. If life were as simple as hitting a reset button the majority of us would have hit it by the time we turned 32. But since we don’t have this option, it’s time to be practical. This begins with a financial plan.  

Creating a Financial Plan — Deciding What Goes and What Stays

Think back to a time when you didn’t have debt. What did your life look like? Perhaps you weren’t driving the same vehicle, your student loans were non-existent, you didn’t own so much stuff, or perhaps you didn’t have the house you live in today. It’s easy to get comfortable to a certain lifestyle but once you realize you can longer afford that life, it’s time to make changes.

Making a financial plan begins with listing all of your debt. Write down the lender and exactly how much you owe. Then, determine how long it’s going to take to pay off those accounts. Once you have a clear picture of what your true debt looks like, it’s time to decide what should stay and what should go. Do an inventory of our home. Clean out the garage and see what items you could possibly sell.

One of the biggest items on your list will easily be your home. If you can longer afford your mortgage and your income won’t be changing anytime soon, it’s time to sell.

Selling Your Home for Cash

Imagine not having a monthly mortgage. Or imagine if that payment was even half of what it is today. You could pay off those credits and you wouldn’t feel like you’re consistently suffocating. When you sell your home for cash, not only will you have the ability to start fresh but you can make wise decisions with a clear mind that will put you in a better position then if you were to stay in the one you’re presently in.

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Explore How Selling Your Home in El Paso Can Provide You With Financial Freedom

El Paso Cash Home Buyers is an investment company. We buy homes and invest our own resources to fix them up and make them move-in ready for the next dwellers. When you sell us your home, we are investing in you. Our cash offers are competitive because we know that this amount is going give you the leverage you need to begin your new journey. But above all, our offers are based on the real market value. We’ll never ask you to make any repairs and we always buy as-is. You can think of us like a reset button. Sell us your home and start fresh!  

Options To Consider If You’re Behind On Your Mortgage

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No one becomes a homeowner with the thought of someday losing their home. Buying a home is meant to provide people with new opportunities for growth. However, when times become tough, the exact opposite can happen. It’s easy to get caught up in the emotional aspects of potentially losing your home but staying determined, focused, and optimistic is the best thing you can for yourself and your family.

As soon as you realize you’re not going to be able to make your full monthly mortgage is the time to seek help. The sooner you take action, the sooner you’ll be in a better position to avoid foreclosure. Foreclosure doesn’t have to be the only option. By doing the following you can avoid losing your home:

Speak With Your Mortgage Lender

Avoiding phone calls, throwing away letters, and sending emails to the trash bins are things not to do when you fall behind on your mortgage. Instead, be proactive. Ask to arrange a meeting with your mortgage lender. Explain to them your situation and see if a lower monthly plan would be available until you get back on your feet. If having lost your job is the reason you’re struggling to pay your home, your lender should know this. Lenders have dealt with many similar situations and will be able to offer a potential solution based on your situation. To them, ignoring their calls, emails or letters is a sign of negligence and a lack of care.

Be Skeptical of Any Foreclosure Offer That Sounds Too Good to Be True

Ever heard of a foreclosure specialist? If they haven’t already reached out to you, individuals with this type of title will contact you as soon as your home goes into pre-foreclosure. The offer typically begins with a sympathetic “Let us help you — we’ve seen many people go through the same thing, that’s why we’re here to help.” Then, they’ll offer you a loan to cover the costs. It all sounds great and can certainly be what you need to remain in your home but the terms will leave you in a worse position. Paying back these loans will be nearly impossible given their extremely high interest rates. Do your research before signing on the dotted line.

Contact a Cash Home Buyer in El Paso

Allowing your home to go into foreclosure will leave you without a home and without the means to move on from the situation. However, one option you’ll want to consider is selling your home for cash. As cash home buyers, we buy homes in pre-foreclosure at a competitive cash offer so that you can avoid ending up without the means to secure your next move. Since you don’t have to make any changes to your home, the move, though it will be difficult will come at no additional cost to you. We don’t collect closing fees and we don’t charge a commission.

Falling behind on your mortgage can hit you like a ton of bricks. From one day to the next it can feel like everything has changed for the worse. Seek help today by giving us a call.

How to Deal With a Probate Property

companies that buy houses in any condition

When you inherit a home that is less than desirable, you are tasked with the job of selling it or maybe putting it up for rent. Both options are easier said than done. When you look at the house all you can see is the old faded paint, damaged stucco, outdated design, and overgrown garden. Selling this property may seem impossible. The problem can be even worse if you are not actually in the same city as the home. And even worse, if it was the home you grew up in, it may be heart-wrenching to see it in such terrible condition.

So what are you to do? Your best option is to find companies that buy houses in any condition. Companies that buy homes in any condition are not concerned with how bad or ugly the home looks, they know that you don’t have the resources or funds to renovate the home yourself, so they are prepared to take it off your hands in the condition it stands.  

You Don’t Have to Conduct Repairs

When you turn to companies that buy houses in any condition the biggest benefit is not having to conduct any repairs. Investors will often take the home off your hands and simply deduct the repairs from the price paid out. This gives you a huge service. At the end of the day, you don’t have to worry about paying for and conducting any repairs yourself. There is no need to hire an expensive repair or renovation team either. There’s no need to worry when an investor will take the property off your hands and give you the value in cash.

Don’t Worry About an Outdated Home

There’s also no need to worry if the home is in outdated conditions. Normally, when selling a home on the real estate market, outdated kitchen and bathrooms can be a huge downer. There is no choice but to conduct a renovation before trying to sell. However, when you turn to companies that buy houses in any condition this is not the case. You can simply hand the house over and receive cash in hand!

Don’t Wait for the Market

Listing your home on the market is a long extensive process. Aside from repairs and renovations, you still have to find a reputable real estate agent and stage the home. Then, you have to wait for interested buyers to ganders through the home and offer bids. The process can take several months to a year. On top of all that, prospective buyers may end up trying to negotiate a lower price than you had intended. Many people try to sell their probate home on the market only to find out that they won’t get what they hoped for anyways.

Work With the Best Cash Home Buying Company in El Paso

At El Paso Cash Home Buyers, we can help you get rid of your home quickly. Even if this is a probate property in poor condition, our experts can take care of the problem for you! We make it fast, easy, and competitive. Contact us today for more information.  

The Advantages of Cash Home Buyers Compared to Traditional Real Estate Agents

Cash home buyers

Popular online real estate databases like Zillow, Redfin, Realtor, and Trulia have made it feasible for anyone looking to sell their home to do so much more efficiently. Real estate agents rely heavily on online marketing in order to attract more potential buyers. While the tactic to sell homes have improved over the past couple of years, it can still be difficult to sell a home. Many consider other means like placing it for rent or gifting it to a child. Another option that has gained momentum is selling it to a cash home buyer. If you’re considering this route, you may be wondering is it worth it? What are the advantages? As a cash home buyer in El Paso, allow us to explain the main advantages of choosing this viable option.  

Maintain Privacy — No One Will Have to Know You’re Moving

Once you place a ‘For Sale’ sign on your lawn, you can expect your neighbors to take interest in your situation. For better or worse, sharing your need to move can be uncomfortable. A real estate agent’s job is to market your home the best of his or her ability so that will draw more attention to your situation. While you undoubtedly want to sell your home quickly, if you haven’t moved out, it can be extremely overwhelming dealing with the attention. Instead, cash home buyers will view the home at your convenience and make you an offering price without ever having to place a sign on your lawn. If privacy is of a concern for you and your family, you’ll want to consider working with a cash home buyer.

Save Time and Effort

Showing homes to potential buyers can be exhausting. First, you’ll need to prepare the home. This involves making repairs, moving furniture or emptying the home, and sprucing it up so that you can lure in buyers. You might wonder why you’re having to spend so much money on these repairs and visual improvements when you’ll be moving soon. The reality is, if you go the traditional real estate route, it involves more time and effort to sell your home. On the contrary, cash home buyers work fast and offer to buy your home as-is. At El Paso Cash Home Buyers, we often close deals in as little as seven days. You can completely avoid spending time, money, and effort in selling your home by working with us!   

You Can Move On From a Difficult Situation Much Sooner

There’s no telling how soon your home will sell when you go the traditional real estate route. This can be troubling if you’re trying to move on from a difficult situation. But not to worry — when you sell to a cash home buyer, you won’t have to wait much longer to leave your home. El Paso Cash Home Buyers can buy your home as-is and give you enough time to move out. We realize you’re already in a stressful situation, we won’t make it any more complicated!

Contact El Paso Cash Home Buyers Today

Whether you’ve had bad luck in placing your home on the market or need to sell your home fast because you’re relocating to another city, we can help! Believe us when we say you’ll see the benefits of a cash home buyer, right away. Give us a call today to learn more.  

Top 3 Benefits of Selling Your Home As Is

sell my home as is

Selling a home requires effort, persistence, and a healthy market. The odds are not always in a home seller’s favor. Sometimes a home can sit on the market for months on end with little to zero interest. This can be challenging, especially if you’re anticipating a big move or perhaps already find yourself in a new city. You’ll want to consider other options at this point. A realtor may be advising you to make the necessary repairs or lower your asking price. Not having the funds or resources to make renovations in order to appeal to buyers, leaves you with the last resort of dramatically dropping the price but even then, the property may not sell. Consider selling your home as is, instead.

The benefits of selling your home “as is” extend beyond the quick and easy process. Selling your home for a competitive cash offer allows you to move on from a difficult situation, avoid paying for repairs, and there’s no need to pay a realtor a portion of the sale. Let’s explore these benefits further:  

Benefit #1: No Need to Pay for Repairs

If you’ve lived in your home for more than a few years, you know every crack, dent, broken door, and outdated appliance. Like most homeowners, you hoped to fix or update your home but a lack of time and money always got in the way. Now that your home is for sale, potential buyers are examining the home for these potential repairs. You might be thinking, “I wish I could just sell my home as is!” Well, you’re in luck because you can! The benefit of selling your home “as is”, is that there’s no need to make any repairs. Since we buy your home “as is”, you can move out without the stress of hiring a professional cleaner. Leave all the dirty work to us!

Benefit #2: Get Out of a Difficult Situation Faster

Going through a divorce? Relocating to another city? In a difficult situation? No matter the reason you need to sell your home quickly, we’ll help you get out of the situation faster than the traditional real estate process. Most of our home sales close in as little as seven days! So once you agree to sell us your home, you can move on with cash in your hands.

Benefit #3: No Realtor Fees

Realtor fees, closing costs, other hidden fees? You can completely avoid paying any of those! Another major benefit of selling your home as is. The full cash offer we present you for your home as is, is the cash offer you’ll receive. We’ll never request any additional fees and there are absolutely zero hidden costs! In addition to avoiding realtor fees, you avoid the risk of a sale that may fall through. Sometimes buyers back out last minute, leaving you and the realtor with more work to do.    

Sell My House As Is! — Contact El Paso Cash Home Buyers Today

These are only a few of the benefits of selling your home as is, there are many more! At El Paso Cash Home Buyers, we’ll work with you to ensure you’re fully in the loop of the buying/selling process. Our cash offers are competitive and we’ll help you understand the market value of your home. Connect with us today!