3 Signs It’s TIME TO SELL Your Rental Property

sell my home

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!

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!