Being a landlord is an excellent way to earn a steady stream of passive income. Who doesn’t love making a few extra thousands of dollars every month? But there are situations when managing your rental property is more trouble than what it’s worth.
When it comes to investment properties, the golden rule is – you need to know when to let go. But how do you discern when it’s the right time to make a move and sell a house fast in Modesto, CA? There are several factors you must consider before making your decision.
This is why we’ve put together this list of signs to watch out for when considering selling your investment property before it’s too late.
#1: It’s More Trouble Than It’s Worth
As a landlord, you’ve got your hands full. You must be available on call at all times to handle tenant emergencies. If you notice any of these signs, then it’s time to sell:
- You’re overextended – being a landlord is too much work than you expected
- Your tenants are a constant problem
- Your idea of being a passive landlord has turned into a full-time job
- You’re handling expensive and time-consuming maintenance issues every month
If the stress of being a landlord isn’t worth the effort, it might be time to wave goodbye.
#2: Your Cash Flow From The Rental Property Is Negative
If you spend thousands of dollars on repairs and maintenance for the rental property, it’s time to reevaluate the situation. There are several reasons for a negative cash flow – taxes, utilities, insurance, or market rents might have dropped. Whatever the reason, if you’re spending more than you’re earning, it’s time to exit the game. Connect with a trusted local cash home buyer in Modesto, CA, to sell your house for cash and enjoy a quick sale.
#3: Your Property’s Value Has Increased Significantly Over The Years
Property appreciation – the holy grail of real estate investments. If your property is located in a central Modesto neighborhood, it will likely have enjoyed significant value appreciation over the years. If your home’s value has increased several times the initial amount you paid for it, it’s time to make a quick sale and enjoy the profits.
#4: You Want To Move On
Life happens, and you might no longer wish to be tied down to Modesto as a landlord. You might want a change of scenery, wish to move closer with family or have an exciting opportunity calling your name in another city or state. No matter the reason – it’s okay to call quits on being a landlord and do what’s best for yourself.
#5: You’re In A Financially Tight Spot
Let’s face it, being a landlord is expensive. You need to ensure that the property is maintained well and abides by the health codes and numerous building regulations – all of which cost a pretty penny. If you’re having difficulty raising the cash to pay for costly repairs, selling your home for cash might be the easiest way out.
What To Do When You’re Ready To Sell?
So, the writing on the wall points to selling your investment property. Wondering what to do next? Well, no worries! We’re here to help you out. We buy houses in Modesto, CA, in any situation and condition, helping you make a quick sale with zero hassles. Request a free cash offer today and get free from your tenant troubles, tax tribulations and other worries.
When you know it’s time to sell your rental, reach out to Anissa Buys Houses, complete the sale quickly, and walk away with a handsome profit in your pocket!