Deciding what to do about the non-stop headaches when dealing with a bad rental property can take time and effort. If you are ready to cut your losses and sell the property, you have probably considered listing with a real estate agent. Besides the high agent fees and prep costs, the trouble with the listing is the open-ended length of time your property could be on the market and the unending holding costs you will be forking over monthly for utilities and upkeep. Or perhaps you have considered selling on your own to save the commissions for yourself. Unfortunately, FSBO listings are not typically successful; only 11 percent sell, usually for around 25 percent less than agent listings.
So what is an investor to do? If you are more than ready for the hassles to end, read on as we explore three things you can do with a bad rental property in Long Island.
Bad Location
No matter how attractive your property is, it will be difficult to exit the investment if it is in a bad location. Whether you purchased without performing your due diligence or the neighborhood has undergone a significant downfall, your rental location can doom the potential for your returns. Good tenants seek out safe areas with low crime rates, good schools and nearby amenities like parks, access to transportation and walking proximity to business and shopping districts. Why not consider a direct sale to a professional buyer like those at Homeowners Resource Group, Inc., who will save you time, effort and money with guaranteed closings in just a matter of days at no cost? With a direct sale to your professional buyer at Homeowners Resource Group, Inc., you can begin enjoying life with your troubles behind you.
Bad Investment
Another problem may be with the property itself. While a deal may look great on paper when you run the numbers, many investors realize too late that the property requires a great deal of rehabilitation to turn a profit. If you happen to find yourself deep in a money pit of constant repairs, a direct sale to a professional buyer like those at Homeowners Resource Group, Inc. may be your solution. At Homeowners Resource Group, Inc., our professional buyers will buy your bad rental property as-is for cash, and you won’t pay any commissions. At Homeowners Resource Group, Inc., our policy is total transparency. Hence, we provide you with the details of your costs and profits from a conventional listing vs. our direct offer for your property, which you will agree is fair. We do this at Homeowners Resource Group, Inc. because we want you to feel good about working with us long after the closing. The local professional buyers and their team at Homeowners Resource Group, Inc. are your neighbors who live and work here in Long Island and care about our community and helping people like you solve problems.
Homeowners Resource Group, Inc.
The easiest thing you can do with a bad rental property in Long Island is to sell directly to professional buyers at Homeowners Resource Group, Inc.. At Homeowners Resource Group, Inc., our professional buyers have optimized efficiency and lowered costs with a full-service in-house team of industry specialists to handle everything, saving you even more money and time. Let the professional buyers at Homeowners Resource Group, Inc. help you locate your next investment so that you can take advantage of the tax benefits of a 1031 exchange. Ask your professional buyer from Homeowners Resource Group, Inc. about our current inventory of the best investment properties available in Long Island. In addition, the team at Homeowners Resource Group, Inc. includes property management pros who can help you with everything from cleanouts to tenant placement or on-site management and protect the remainder of your holdings from becoming bad rental properties in Long Island. Call Homeowners Resource Group, Inc. at 631-759-4408.