Rental properties are often a great long term investment, so the decision to sell should not be taken lightly. There are a few important things to consider before selling your rental property.
If you're generating free cash flow on a monthly basis that covers your mortgage, taxes, insurance and maintenance costs, it's difficult to justify selling. If, however, you are losing money consistently and the property is in a market where home values are not appreciating significantly, then you should consider selling.
It may make sense to sell even a high performing rental property if you have another investment opportunity that will produce superior returns on your cash investment ("cash-on-cash returns"). Some rental property investors are comfortable "trading up", in many cases from single family portfolios to multi-family deals.
No one wants to be forced to sell a long-term investment, but sometimes it's unavoidable or necessary. If you have substantial equity built up in a rental property and you need to access that capital to pay for unexpected bills, that is a reason to sell. Before selling, you might want to explore a cash-out refinance to pull contractor of the property. This would allow you to hold onto the property but you should make sure the terms of the cash out refinance are such that your rental property's financial performance contributes to monthly free cash flow.
Is your rental property is in a market with excess inventory and you're experiencing stressful vacancies? Perhaps you can't seem to successfully screen out difficult tenants or find a reliable or cost-effective property management company. Or managing a rental property is the last thing you want to be dealing with -- some people love managing rental properties, other people quickly realize it's not for them. If any of these situations are relevant, then it might make sense to sell your rental property.
Selling your rental property doesn't need to be expensive. With OfferMarket, you can sell your investment property to another investor or to a primary residence buyer. Regardless of how you choose to sell your rental property, you will never pay a commission or fee. Rental property owners who sell on OfferMarket's real estate marketplace save thousands of dollars and countless hours.
Yes, we encourage you to sell your leased property. There's no need to wait until your property goes vacant and carry the costs associated with a vacant property.
Not a problem if your tenant is not paying rent (#rentstrike). The rental property investors in our network have shown a considerable appetite for rentals with non-performing tenants.
Buyers are required to either pay their buyer's agents commission directly or increase their purchase price and request that you pay the buyer's agent commission.
We operate everywhere in the United States. No matter where your property is located, we are able to deliver competitive offers.
OfferMarket transactions are 100% risk free for the seller. You can reject any offer for any reason. You can cancel our marketing agreement at any time.
We get paid a small fee by the buyer at closing.
|Seller Concessions||0% (As Is)||0 - 2%|
|Repairs||$0 (As Is)||0 - 2%|
|Closing Timeframe||15 - 45 days||60 days|
|Closing Costs||0 - 2%||1 - 2%|
|Days To Receive Offer||1||60|