Moving into 2019, selling your investment property may be your best option for the year! Here are the top five reasons our clients have recently been found selling their investment assets.
Reason #1: Poor Tenants
Do you have tenants that do not pay rent on time or who are destructive to your home? If you find that you are stuck with poor tenants, we have a solution. We buy homes that have unwanted tenants
Whether it is for legal or financial reasons, getting out a bad tenant is not as easy as some would expect. Due to tenants right, it can take months to get an unwanted tenant out of the home. Within those months, many homeowners incur unavoidable fees associated with their investment home. Selling with poor tenants can relieve you of the legal hassles.
Reason #2: A Vacant Investment Property
Vacancy in an investment asset can drastically impact the financial benefits that investment properties are supposed to bring. Actually, a vacant home can bring major consequences to your property. If you were receiving the monthly rent to cover the mortgage, you will now need to find alternative ways to obtain that capital. Additionally, you are now responsible for all bills related to the home.
If you have a vacant home, you could find a new tenant. Though, depending on the reason that the home is vacant, this can be both costly and timely. You may need to invest in making repairs and hire a company to help find a credible tenant. To avoid this hassle though, you can sell the home to us vacant, which can prevent you from losing income on your investment home.
Reason #3: Avoid Foreclosure
Whether it is on the current home you live in or on your investment asset, foreclosure can have major repercussions. In the present, going through the foreclosure process can cause individuals an immense amount of stress, which can cause emotional and physical damages to one’s body. On a grander scale, if an individual loses their home to a foreclosure, they essentially lose all equity they had gained in the home plus their credit is negatively affected – this combination can make it exponentially challenging to purchase a new home in the future.
To avoid foreclosure, you can either sell your personal home and move into your investment home, or sell you investment property and use the cash to get ahead on your mortgage payments.
Reason #4: Liquidate Cash for Other Financial Burdens
Life always present with uncertainty, and many times this uncertainty comes with unexpected financial burdens. Whether it be an unforeseen health diagnosis, loss of a job, or one of the countless other reasons citizens find themselves in a financial strain, selling your investment property to pay off other debts can provide investors personal relief. They can avoid paying high interest rates and prevent their credit from dropping. Plus, staying afloat provides opportunity to get back in the investment game in the future.
Reason #5: Prepare for Retirement
The last four reasons outlined have been directed towards how selling your investment home can save you from a tough time in your life. However, selling your investment property may just be the next step in your life to move forward.
If you are planning for your retirement then selling your investment property can provide you with two major benefits. First, you can let go of all responsibility of tenants. No more manage equals less stress, which is great for when you are entering the next phase of your life. Secondly, selling your investment home to prepare for retirement can give you extra cash for whatever your next adventure in life is.
Should You Sell You Investment Property?
This is a question that you need to ask and reflect on yourself. Can selling your investment home provide you with advantages to make that transition to the next phase of your life, whether it be getting some financial freedom from debt or financial freedom for the future? If you think that you could benefit from selling your investment home, try contacting us and speaking with one of our staff.
We specialize in buying all types of investment properties – homes, multifamily, and commercial properties. We can provide a free evaluation on your asset which may make the next decision a bit simpler. Don’t wait – get started today to find out how we can help you.