Do you know what makes rental properties such a lucrative investment? The mere fact that they always provide steady stream of income, not to mention the price appreciation. But that’s only if, none of your plans goes south.
Unfortunately, it comes a time when you’ll feel as if it absolutely makes no sense to keep holding onto my house in Houston, Texas. And just like before, when you had all sorts of reasons to buy my rental home, you’ll start talking yourself into selling.
Why would anyone sell my house fast in Houston, Texas?
- Property values are dropping in the neighborhood
- The tenants are turning your life into a nightmare
- You just got promoted, but the new position is in a different state.
- You’re divorcing
In case you’re still undecided, We Buy Fast Houston Houses thought maybe you need some insight. This guide will help you recognize the market-specific, financial, and personal signals that indicate it’s time to sell fast.
What makes a good rental?
What qualifies as a good rental unit seems like a good place to start. So if you’re undecided as to whether to sell or not, identify a high-performing property’s key characteristics.
- Positive cash flow
Does my Houston, Texas house have a positive cash flow once all the bills are paid? If it does, you should hold onto it. If it doesn’t you need to reach out to We Buy Fast Houston Houses and ask for an all-cash offer.
- The neighborhood
Most investors love investing in areas that were once neglected, but are slowly developing and improving. Gentrification can be both a blessing and a curse. To an investor, it’s a blessing because that means they’ll eventually earn more as rental income.
To a tenant, it’s a bad thing because they’ll now have to start thinking about how they’re going to pay more as rent or relocate.
- The rent-to-price ratio
The thumb rule is, you should be earning at least one percent of what you paid for the house every month. Anything lower than that is utterly ridiculous and you should sell my home fat in Houston, Texas.
- Great tenants
In the real estate business, good tenants are like gold. You could save on turnover and vacancy costs if your tenants respect all your rules and policies, take awesome care of the property, always pay rent in time, and have lived in the property for a prolonged period.
- Property value appreciation
Any rental property in Houston, Texas will appreciate in value over the years. There’s no way the housing market value will go up and your property is left behind. And that’s a good sign because if you finally find a buyer, you’ll be able to sell at top dollar.
The bottom line is, selling a home is not a decision to be made on a whim. If you have no idea of what you need to do, reach out to the professionals.
We Buy Fast Houston Houses could help you out. We will tell you what we think about your situation, and if you still want to sell, we’ll help you sell fast.