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At some point in time you may end up asking yourself should I sell my rental property in South Tampa?
There can be several reasons why this question is being raised. When it does arise you are going to find that it leads to many other questions. This now means giving some serious thought to the answers so that you can move forward confident that you’ve made an educated decision.
Let’s look at the pros and cons of selling your rental property.
You are probably aware of the benefits of having rental property.
Otherwise, you would not have entered into this type of real estate adventure. The question is are you still reaping those benefits? Or are the benefits just not worth the time and work involved?
The benefits can consist of…
Then at the same time you are asking should whether you should keep or sell your rental property that has tenants you have to look at the downside of being a landlord.
If you’re thinking of selling, you’ll probably want to consider selling your South Tampa rental fast… and possibly selling to a builder.
If after coming to the decision that yes you are ready to sell your property, you will need to ask yourself, when should I sell my rental property? Who should I sell it to? It may be because you are contemplating this that selling it now may be an option.
This is going to depend on a lot of factors which include your reasons for deciding to sell. This seller was tired of the hassle and upkeep of a house built in 1962. While he had a number of offers to purchase his property he was ready to sell when he got a fair offer for the home from us at SouthTampaTeardowns.com
Should you sell your rental property in South Tampa to deal with a heavy debt load? Great question!
Now you are faced with a more specific question like should I sell my rental property to pay off debt?
To find the right answer to this question you are really going to have to do some financial figuring.
You need to look at all the costs of the rental property and what is the profit from the rental unit.
Then you need to look at the cost of your interest rates on your debt and see what you would be saving if these were cleared. There are other factors that you need to take into account as well… like the long term value of the rental property over time and the ongoing expense to maintain the property.
You might have a solid reason to sell your rental property even at a loss.
Then you may have to ask yourself, “should I sell my rental property at a loss?”
This can be really disturbing as nobody likes to lose money. The one advantage may be for tax purposes where a loss can be realized.
Depending on the real estate market at the time you may not have a choice if you need to sell your rental property quickly.
Can you sell a rental property with tenants in it?
There are pros and cons to selling your rental property when the tenants still live there.
With tenants in place you are showing the property is generating an income. It saves a potential new buyer from having to find tenants. The downside is dealing with the tenants during the sale process.
Some tenants will cooperate where others won’t. When the property is on the market it means that someone is going to have to show it. Tenants may find this an inconvenient and will try and make it difficult for showings. Or, they may not tend to the property properly and it won’t show at its best. To answer this question you are going to have to really know how your tenants are going to react to the sale. You can also discuss the pros and cons with an agent who is experienced in this process.
We can help you sell a rental property in South Tampa with problem tenants. Our builder partners will occasionally take possession of the property WITH the tenants, so if you are just overwhelmed with the thought of doing an eviction, we can do that for you.
You can do this by looking at your personal circumstances. Make sure that when making your decisions to think about the long-term of your actions.
You may be in a temporary financial circumstance that needs addressing. Selling the property could maybe help with this. However, could selling now put you at a bigger disadvantage later on down the road?
Be sure to rely on the right professionals when you decide to sell your rental property. These are experts like an agent who specializes in working with builders who are cash home buyers in South Tampa.
My name is Rob Wilson and I can help answer the questions you are faced with. I want to help you make the right decision in regards to a sale. Also, if you are feeling frustrated over your rental property this may be temporary and you don’t want to make a hasty decision because you may be having a bad day.
Then there are times when the housing market is really booming and you may decide this is the best time to sell. Consider the reasons why you entered into the rental property and see if this has changed.
If you want to see what this option can do for you, feel free to call me at 813-784-4199 right now. My name is Robert Wilson, Director of Dirt with SouthTampaTeardowns.com and EXIT Bayshore Realty. If I’m busy helping another landlord, leave a message or request your offer online at SouthTampaTeardowns.com.
There is no-obligation so it won’t cost you anything and you can consider the offer from a builder to buy your rental property as something to consider. I can also let you know if you might be better off selling the property to an investor who might keep it as a rental, fix and flip the property, or if your best price might come from a builder looking for a teardown in South Tampa.
Thanks for reading and I hope this article helped you to understand your options better.