Here at the AppleTree Group we use these posts to share some of the actual stories we hear from clients. Clients come to us because they want or need to sell their house. One of the things that sets our company apart is our willingness to listen and sympathize with your situation. We carefully listen to our clients so we can structure our deals to meet their needs. We don’t do ‘offers in two hours’ and we won’t low-ball you for a quick sale.
David bought his rental at the height of the market in 2007. Things turned bad almost immediately, not the least of which was a 40% equity loss during the Great Recession. This period came with a quick succession of tenants who, for one reason or another, also hit upon bad times.
Around 2009 things seemed to stabilize. As the economy improved renters became more stable and stayed around longer. Housing values bounced back quickly but faster than you could raise rents. In 2014 David’s most recent tenants had been referred by a friend, so he accepted them without proper background checks.
Neighbors soon became upset when fumes from a burn pit dug in the back yard wafted across their property. The stench from burning plastics and other garbage was choking them so they asked the tenants to stop. “We could burn whatever we wanted in our old house,” was the reply. Of course the neighbors next move was to bug David…over and over…whenever anything bugged them.
It Was Downhill From There
Rent payment from these tenants was always slow. After two years David had had enough of slow payments and neighbor complaints. He wanted them out. Too many headaches and problems wore him down. He asked them to leave. That’s when they stopped paying rent altogether. Ultimately David had to evict them.
With the eviction completed he went to inspect his property. David found waist deep trash and damage throughout. He hired a contractor to remove the trash and start the demo. At this point he just lost it. “I don’t want to go through the process again of hiring a contractor to repair $50,000 of damage.” He’d already remodeled the 1960 split level with the purchase in 2007.
As a bank compliance officer David knew he couldn’t get a bank loan with the house damaged the way it was. Besides, it would just add more debt to the property which was already a money loser. After a brief Google search, he found Appletreebuyshouses.com. We specialize in solving problems like David’s.
Appletreebuyshouses.com offers a free ebook that explains the options people like David have for selling their property. ‘How Selling Your House to a Real Estate Investor Stacks Up Against Your Other Options’ lists the pros and cons of selling property yourself, with a realtor or selling to an investor.
If you want to sell your house fast, but think you need to use a realtor, think again. Investors can pay cash and close quickly on a schedule that fits your needs. Because of this, you don’t have to worry about buyer financing falling through, realtors calling at inconvenient times to show your house, or people traipsing through. And with real estate commissions, repairs and holding time, you may even earn more.
Appletreebuyshouses.com provides solutions for many other common real estate problems.
If you decide selling to an investor works for you, we’re here to help you sell
easily and quickly, on your terms.
Fruit From the AppleTree