Is it time to bite the bullet and sell your rental property?
From managing tenants to paying for repairs, owning a rental property can sometimes end up being more work than it’s worth (especially if your tenants aren’t respecting the property).
But selling the property is so final …
Is it really time to sell your rental property?
Well, we’ve worked in the Los Angeles real estate market for quite a while.
Here are a few signs that it’s time to sell your rental property:
The Property is Fully Depreciated — Depreciation allows you to deduct improvement expenses on the home. But it’s not infinite. Once this is exhausted, it might be a good time to sell the house.
You Have Substantial Equity — More equity means more money in your pocket when you sell. You could then turn that cash into other better investments.
You Have Negative Cashflow — Losing money every month on your rental property is probably the single best reason to sell quickly. Rental homes should be making you money … not costing you money.
The House is Outdated Or in Disrepair — At some point, repairing or updating a rental property can become too expensive and time-consuming. If that’s the case, consider selling to a professional home buyer like us over at Green Sur Properties!
By the way, at Green Sur Properties, we can purchase your rental property as-is for cash and close in just a couple of weeks. Give us a call at (323) 990-3922 to learn more!