Stuck with an investment property?
Real estate is a great investment and you’ve probably read somewhere before that there’s the potential to make a lot of money in repairing and flipping properties or keeping them as rentals.
But also… the market fluctuates. And sometimes, real estate investing doesn’t feel like everything it was cracked up to be.
For example, if you buy a home to fix-and-flip and then the market takes a downward turn, that can make selling at a profit pretty difficult.
Or maybe you end up with destructive tenants in a rental and they do a lot of damage.
Whatever the case… you wouldn’t be the first person to feel stuck with a real estate investment.
So here’s a quick list of exit strategies!
Live in The House — If the home is still in decent shape and you don’t want to have to manage it as an investment property, then you might consider moving into it. As a primary residence, there are no worries about selling it for a profit or finding good tenants.
Rent it Out — If the market takes a downturn after the repairs have been made to the home but before you were able to flip it, then it’s probably a good idea to rent it out. This will mean not making the money back for a little bit. But as long as the tenants are good, the house can still be sold once the market recovers.
Sell To a Professional Homebuyer — If the home is in disrepair, or even if you just want to get out of the situation altogether, you can consider selling to a professional home buyer like us over at Blue Anchor Properties. We can make you a fair cash offer and buy your home as-is for cash… we’ll even pay all closing costs. Give us a call at (201) 713-5312 to learn more.
Hope that helps!