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 Twin Cities.
Bad Location
When it’s time to exit your rental property, you need to be aware of the impact that its location can have on your investment. If your property is in an undesirable area with high crime rates, poor schools, and limited access to amenities or transportation options, it may be difficult for you to find a buyer who will pay the price you’re asking for. You may end up having to accept a lower offer just so that you can get out of the investment quickly.
A direct sale is one way to exit a bad location rental property without going through the hassle of marketing it and waiting for offers from buyers. Professional home buyers like MN Nice Home Buyers are experienced in this type of transaction and can provide you with quick cash for your property. They are experts in the local market and can offer you competitive pricing that reflects the current market value of your rental property. You can even benefit from their complimentary consultation services to help you understand how much your property is worth in its present condition, saving you time and effort as you consider a direct sale.
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 MN Nice Home Buyers may be your solution. At MN Nice Home Buyers, our professional buyers will buy your bad rental property as-is for cash, and you won’t pay any commissions. At MN Nice Home Buyers, 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 MN Nice Home Buyers because we want you to feel good about working with us long after the closing. The local professional buyers and their team at MN Nice Home Buyers are your neighbors who live and work here in Twin Cities and care about our community and helping people like you solve problems.
MN Nice Home Buyers
The easiest thing you can do with a bad rental property in Twin Cities is to sell directly to professional buyers at MN Nice Home Buyers. At MN Nice Home Buyers, 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 MN Nice Home Buyers 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 MN Nice Home Buyers about our current inventory of the best investment properties available in Twin Cities. In addition, the team at MN Nice Home Buyers 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 Twin Cities. Call MN Nice Home Buyers at 612-930-2000.