Owning an investment property sounds great at the beginning. In a perfect world, you spend your time earning a passive income, building your portfolio and providing a home to responsible tenants. In the real world, it never goes quite as planned.
Even with the best tenants, your investment property requires constant repairs. With bad tenants, your stress level rises exponentially. We know because we’ve been there. We’ve felt the frustration of watching your property fall apart. We have chased late payments and dealt with evictions. It’s far from the stress-free, passive income source you were hoping for.
That familiar feeling of exhaustion and frustration is why we’re so passionate about finding you a way out. We want you to move on to a better investment, one that not only helps you financially but also one that isn’t a constant drain. Investing in real estate and rental properties requires specific industry knowledge and familiarity with local markets. Without it, you could be throwing money away.
Common problems we see every day include investors who purchased rental properties that weren’t properly repaired. The seller did what we call a “lipstick remodel.” They address the most obvious defects but leave the more costly repairs undone. These hidden defects can quickly erode profits and tip the risk-return scale out of balance.
Evicting difficult tenants can be harder and more costly than most people think. If you have to file an eviction with the courts and due process for eviction is required it could take a couple of months to remove a troubled tenant. That’s a time you are not making any money.
Managing day-to-day operations can also be a chore, especially if your rental property wasn’t properly repaired or if regular maintenance isn’t performed. Collecting rent and enforcing lease terms and conditions requires constant attention. There are management companies that will manage your rental property, the cost ranges between $750 to $1,500.
Remember, you get what you pay for, and rental property management is no exception. Additionally, profit margins in property management are slim. Most have to manage a large portfolio to make a decent profit. How much personal attention do you think you’re one, two or three properties are going to get? All of these can be quite draining, making you a tired landlord in Colorado.
We Buy Rental Properties
If you are a tired landlord and want to sell your rental property to a professional home buying company, you owe it to yourself to consider Real Home Solutions. Depending on the value of your rental and its current condition, we can provide a number of different solutions to help you get rid of that rental property fast.
Maybe you’re not totally tired and frustrated right now. It could be that you’re simply curious whether you’re getting enough out of your investment property. We can help with that too. If you’re ready to let go of your bad investment property and move on to something new, give us a call today. We’ll talk through any questions you have and help you make the best choice for your future.