Here are five good reasons why you should be thinking about selling your Fort Lauderdale rental property fast for cash
1) . Negative cash flow
When you first bought your rental everything seemed to work and your tenants were paying on time. Naturally, you started to think this game of having rental properties was easy, but once you start to neglect the home and weren’t keeping up with the repairs the home needed. All these repairs begin to add up these, and in turn will start eating away your positive cash flow into negative cash flow..
2). Delinquent Taxes
The repairs for property can add up, but nothing will escape from delinquent taxes. Even if you pay your property cash, chances are you still have to pay taxes. Come end of the year you’ll need to have funds set aside to pay taxes for this home, if you don’t then your home’s taxes become due for that given year, which then become delinquent. If that isn’t enough, once it goes up for tax auction sale, the auctioneer won’t give you a penny for your home!
3). Declining Market
If you are like most rental owners you know that property prices go up, but what if the market starts tanking? Yes, it happens. That depreciation means that your property will probably be worth less than what you initial though, and it’ll continue to decline until market hits rock bottom. Investing in bad areas will only depreciate your property faster, and it helps to your Fort Lauderdale home fast before the market starts taking a turn for the worst.
4). Long Term Health Issue
Many landlord are quite healthy and have a great supporting team. Some though, have mishaps along the way, a stroke, a heart attack, etc. Like everyone though hospital care isn’t anything cheap, but you begin to realize that your health is more important than the cost. It then start taking its toll on you and you start neglecting your obligations as a real estate landlord because of health issues. Don’t wait until your health gets bad, start planning ahead how to sell fast before your health starts to take its tolls on you.
5). Financial Obligations
Owning real estate can help in various ways especially in its liquidity; however, mishaps happen along the way. Maybe you need to pay down debt, just lost a job, need money for health reason. All these are obligations that you want to take care off, and it helps to use your home sell it fast for cash and move on with your life.
Overall, everyone has different circumstances for wanting to sell a rental property fast. Plan ahead for any major life circumstances that might be thrown your way, and one that you can overcome and not have to worry about.
For us personally, we focus on helping anyone going under distress situation and at times are able to give a higher than expected cash offer and it isn’t about taking advantage of anyone rather than finding a solution and making a win for all parties.
My Quick Home Buyers will give you a Cash Offer Within 24 Hours, We Buy “AS IS”, and we can buy in 30 Day or Less Closing. Click below to get starting selling your home fast today!