So you have a rental property that’s keeping you up at night. The tenant won’t pay. The home needs repairs. You’d just like to be done and move on with your life, right? 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, you’ll have to coordinate with the tenant for showing the property. That could be tricky, espeically if your tenant is uncooperative. 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 Oklahoma City, Edmond or Yukon. Really anywhere in the OKC metro.
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, inherited the property 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 Sparrow House Buyers, 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 Sparrow House Buyers, 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 rehab to turn a profit. Those numbers can be very different when applied to real life. Hey, being a landlord isn’t for everyone. No shame in that. The good news? There are people who will solve your problem. If you happen to find yourself deep in a money pit of constant repairs, a direct sale to Sparrow House Buyers may be your solution. We buy the property, honor any existing leases (if the tenant is month to month, they’d receive a 30-day notice), and you won’t pay any commissions. Our policy is total transparency. 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 Sparrow House Buyers because we want you to feel good about working with us long after the closing. And maybe refer us to another friend or family member! The local professional buyers and their team at Sparrow House Buyers are your neighbors who live and work here in Oklahoma City and care about our community and helping people like you solve problems.
Sparrow House Buyers
The easiest thing you can do with a bad rental property in Oklahoma City is to sell directly to professional buyers at Sparrow House Buyers. Lean our network to cash out and move on with your life. We have a deep rolodex which 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 Oklahoma City. Call 405-403-9344