The key to financial growth is making money work for you. In the case of Real Estate Investment, making your money work takes many forms. There are short term investment strategies such a flipping a property and longer term strategies such as holding a portfolio of rental properties. Neither of those models are easy to execute. They take training, experience, and a lot of time. If you have a property that’s not working for you, then it may be time to sell that asset and put your money to work elsewhere.
Of all the words that can make an experienced Rental Property Owner choke, “vacancy” is the number one choker. A lot of other problems can be fixed but a vacant space has no immediate answer or solution. It can take time to get a decent renter in place.
In knowing this fact, how long should you wait before putting your rental on the market or selling it to a Real Estate Investor?
Should you sell your property fast?
Great questions, right?
The answer is simple. Let’s look at some of the negative factors of a vacant house.
– Drain your cash flow. If there isn’t a renter to pay the Mortgage, then you are responsible to pay it and if you miscalculate, it can begin to affect your personal finances.
– Security. Criminals are always looking for easy targets such as empty homes. If they bust out windows or vandalize, guess what? You will have expenses and a limited time frame to get the house in order so that it can be rented out as quickly as possible.
– Desperation. The longer a home stays vacant the more apt we are to make stupid choices like: letting anyone rent the home or, just giving up on renting it altogether.
The best way is to sell your property fast to a real estate investor, “as is,” and use your money on another adventure or purchase other Real Estate in a different area that is thriving and has solid potential. Don’t waste time or money on a house that you can’t get filled up with tenants in at least 30 days. A house should never sit vacant and unused for more than 30 days for all the reasons suggested. Contact a Real Estate Investor today and sell your property fast!