Are you tired of the headaches that come with being a landlord? If so, selling your property (or portfolio of properties) is the best exit strategy. However, as interest rates and property prices increase, some investors hesitate to acquire real estate. In fact, home purchases by investors have dropped 30% in the third quarter of 2022 compared to the third quarter of 2021. Therefore, if you’re selling your rental property (or plan to in the near future), you may or may not have a quick sale. If you’re struggling to sell your rental property, keep reading to learn what you should consider and how to get a competitive cash offer from RHED Key Properties.
Should You Sell Your Rental Property?
Deciding whether or not to sell a rental property boils down to finances and lifestyle. For example, many investors strive for a cash flow of at least $100 per month per property. Investors who are cash flow negative or make less than $100 per property should consider selling their property. Not only that but owning investment properties is a significant time commitment. If you don’t outsource your operations to a property management company, you’ll have to manage tenant repair requests, collect late rent, and advertise vacant units. If you feel your time could be spent better on other things, selling your rental property is a wise decision.
Is it a Smart Idea to Use a Real Estate Agent?
Many investors use real estate agents to sell their properties, particularly agents specializing in rental properties. Using a real estate agent isn’t a bad option per se, but not the best solution. Remember that most agents charge a 6% commission on the property’s sale price. So, if you sell a fourplex for $500,000, you would owe your agent $30,0000 in commission. And even if you enlist the help of a veteran realtor, there’s no guarantee that your rental property will sell quickly. The timing of the sale depends on the state of the market, the price of your rental property, and finding the right buyer.
The Solution to Selling Your Rental Property: A Cash Buyer
If you’re struggling to sell your rental property, partnering with a cash buyer like RHED Key is the best solution. We buy houses in any condition, including houses that need major repairs. In addition, there are zero fees to sell your home. Our team makes the process as straightforward as possible. We ask for some key details about your property and may request to view your home in person. After learning more about your rental property, we’ll make you a cash offer as soon as 24 hours.
We Will Make an Offer for Your Rental Property
Whether you’re facing foreclosure or just want to retire from the landlord life, we make it easy to sell your home for free, with no fees. We also offer solutions if you want to sell your home with a lien. RHED Key Properties has made dozens of cash offers in Alabama, and we’re ready to make an offer for your property next. Get in touch with us today to sell your house in Alabama and learn why we’re the leading source for cash home offers in Alabama.
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