Sell your house Tired Landlord- Case Studies
We have many people call us to sell their house for many reasons. One common situation comes from tired or frustrated landlords. Here is a case we just had recently.
We had a seller call us asking to “buy my rental house”. After we dug into the situation, we discovered that the owner bought the house for too much and the monthly payments were higher than what the house would rent for. They had to put their own money with the rent every month to cover the monthly payments on the mortgage. The next problem was that the house is in the Houston county countryside between Perry and Warner Robins, Georgia. The Owners live above North Carolina. Warner Robins is a good place to rent a house, but not from another state. The tenants abandoned the house owing rent and the landlord had no money to fix the house or pay the mortgage without a renter. Unfortunately, we run across this with new investor landlords once in a while. We found a solution to fix this problem, but the landlord was unable to support it. This House went to foreclosure.
Many of you in Warner Robins knows where “The states” are. We recently had an out-of-country (Canada) seller call, asking for help with a house he owned behind Northside High School. He said, “I want to sell my house now”. After talking with him for a while, he made it clear he had bought the house for too much and also wanted to sell the house for too much. He had already tried to rent it for more than the area market rents would support. Multiple real estate professionals told him the same thing and he would not listen. The vacant house stayed empty too long and got vandalized. The repairs cost more than the loss he would have taken by selling his house at a reasonable price. Many times, sellers hold out for more money and end up losing more in money and time.
The two big problems causing these tired landlords to sell their house was not knowing the market and trying to manage property over a long distance away. Landlords get tired fast when they have to drive a long way to keep up with a house they rent. Bad tenants go unchecked for too long and the property suffers for it. We buy houses from out of town landlords for this very reason quite a lot.
For this reason, we have started a professional landlord service that helps out-of-town landlords that needs a local helper take care of their properties they own. Professional landlords are similar to property managers with a few distinct advantages. Check out our page on Property managing. If you’re a tired landlord, ask us how to sell your house without losing all the monthly income.
Hope this helps
listen to the audio version here.