Attracting a customer would have been nearly impossible… Plus, the customer would struggle to qualify for a bank loan, but my only viable option was to sell to a cash house buyer
Some of years ago, I decided to buy rental properties, however i thought that I would make a nice profit. I assumed that the rent would cover the mortgage, however once the properties were paid off, I expected to pocket a considerable amount of money. I invested into a building with four units in Colorado Springtimes… The building was in need of quite a bit of work, but appliances such as refrigerators, ovens plus microwaves needed to be replaced. I purchased new boiling water tanks, had the Heating plus Air Conditioning system worked on plus painted indoors plus outdoors. I updated the plumbing plus light fixtures. The improvements set my back financially. Getting the apartments rented was more hard than I anticipated. The renters were also challenging. They called me consistently. They reached out because the sink was jammed, a light bulb was burned out, the door hinges squeaked or there were ants on the kitchen counter. They also wanted luxuries such as a state-of-the-art security system, a barbecue grill plus dishwashers. When the rents started coming in late or not at all, the situation started to get ugly. I realized that the renters were not taking care of the property. They were causing significant detriment. I started the eviction process! By the time I got the various renters out of the building, I had a immense mess on my hands. The building was in terrible disrepair. Attracting a customer would have been nearly impossible… Plus, the customer would struggle to qualify for a bank loan, but my only viable option was to sell to a cash house buyer. This aplace allowed me to avoid a house inspection, appraisal plus luxurious repairs. I wasn’t even required to haul away the garbage plus possessions my renters left behind. Instead of a wonderful deal of time, labor plus expense, I simply filled out an online form plus signed some paperwork at the closing.
