Friday, March 29, 2019 / by Sara Koenig
I don't know anyone in the Real estate world that would tell you owning an income property is a bad idea.
Real estate is one of THE BEST investments that you can make, ever!
BUT....and this is a big BUT...when it comes to selling an income property, your tenants can be the ultimate sale killer and ensure that you NEVER sell that income property.
I've seen it so many times before. The thing to remember is that your tenant IS NOT selling a house, and in some cases may not have any sort of vested interest in the successful sale of your home...because ultimately the successful sale of your home means they are losing the place where they currently live. Right?
So, for this reason, my recommendation to my sellers in this situation is to move your tenant out and get your property ready to sell in a serious way. I know this isn't ideal considering you won't be getting rent for the period between listing and "SOLD" but you could cost yourself thousands of dollars by ...
Sunday, March 24, 2019 / by Jody Lee
The real estate market is booming, which means that if you have been hanging onto that rental now may be the time to sell!
Of course, if you are a landlord selling a house, there are probably people living in it. Selling with tenants can be a challenge, and a tenant can make or break your sale. You’ll have to plan well in advance, communicate openly with your tenant, and create a plan to get your property sold.
How do I sell a rental property with tenants?
When you decide it’s time to sell your rental property, there are two main courses of action you can take as a landlord: Waiting for the lease to expire before selling, or selling while your tenants are still living in the home. There are benefits and drawbacks to both options.
Wait for the lease to expire:
Allows time for updates: If you’re able to wait for your tenants to move out, you’ll be able to clean, do any cosmetic updates, and just generally spruce up the home before listing, which may help yo ...
Thursday, March 7, 2019 / by Matt Bergman
Selling your home can be an adventure and you never can predict what is going to happen. Every sell is different and comes with its own hurdles. If you have tenants then there are a lot more things that need to be considered. Every time you sell a house you should have a game plan and especially if you have tenants living there. There are a few strategies that you can take and Ill go over both.
Show with the tenants there:
As a seller you need to keep in mind that this is also the tenants home and they most likely have some emotions going in it too. So its smart to sit down with them and have great communication before this process even starts.
Why would the tenant want to keep the house clean and showing ready if they are just going to have to move out anyways? This is something to consider when selling your house. A good option would giving incentives for them to keep it clean. One way you do this is reducing rent for the months showing. Putting more money back i ...
Thursday, February 28, 2019 / by Zak Allen
The classic debate. Renting Vs. Buying. Which one is right for you? Both have upsides and downsides, this blog will tackle both of them.
Ultimately the answers in my opinion depend on mostly your financial situation and where you are in life. I would also look at your long term plans and how the real estate market looks your area. Buying a house is a long-term commitment. As is the case with any relationship, you should think through your decision; acting impulsively is never a smart real estate move. So, if you just got married, graduated from college, or aren’t sure which neighborhood you want to live in, don’t feel guilty about renting until you have a solid plan. Besides these things I'll include three other things you may wanna think about:
What can you afford and how much savings do you have?
Do you want to be responsible for repairs/maintenance?
What are your financial, career and family goals?
Monday, February 18, 2019 / by Connie Tracy
Are you getting frustrated that your home hasn't already sold? Has it been sitting on the market with little to no showings, while houses nearby are going under contract almost immediately? I am here to tell you, the solution is simple: lower the price! I know, I know, you probably already heard this from your agent and thought that it was worth the price you wanted. But the truth of the matter is, the market is hot and heating up FAST! Even throughout the winter months, the market has been on fire. The buyers are out there! If your home isn't selling in today's market, and your agent is working their butt off to market it, then the price is too high.
Who doesn't want to sell what they own, and cherish, for the most they can get? Don't forget... your agent wants to sell your home for top dollar as well! But if you still haven't received an offer in such a strong seller's market, it's time to sit down with your agent, reevaluate your motiva ...