Why would anyone choose to be an out-of-state landlord? Wouldn’t it be easier to manage properties locally? The answer is always yes, however, most out-of-state landlords don’t become so by choice.
Some properties are inherited as assets of an estate after a family member passes. Unless these homes are sold and assets are liquidated, the properties remain in the hands of heirs. Other times the once-local homeowner moves to another city or state but for any number of reasons, holds onto the property.
If a homeowner is unable to sell an existing property before escrow closes on a new residence, he or she is left with decisions about what to do with it. Not too many people want to pay two mortgages, so rather than leave the home vacant many decide to lease it for income until they decide what to do with it. The income generated will at least pay the mortgage.
Are you in this position and ready for some relief? If you’d like to capitalize on the equity of an income property, talking to a real estate investor is one of the quickest ways to free yourself from the responsibility and stress of managing it.
Selling to a real estate investor is the quickest way to get out from under the weight of managing a rental property from a distance. An investor either purchases homes or sells them to one of their associates, getting you the best possible deal in the shortest time possible.
How is a real estate investor different than a Realtor®? Working with a Realtor® can take many months if not longer and that mortgage is going nowhere while you wait. Even if you owe nothing on the property it can be stressful.
Because many real estate investors work with cash buyers they can often sell your home in a matter of weeks. In some cases, you can sell in days. There will be no out-of-pocket costs and you won’t have to pay commissions as you would with a Realtor®.