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Should You Sell Your Rental Property? If you own a rental property in Pittsburgh, there’s a good likelihood that you periodically debate whether you should continue owning the property or sell it. The primary reason for holding onto any property is an obvious one: your rental property generates passive income for you. To help you determine if it’s time to consider selling your property though, here are ten factors that you should weigh when making your decision: You’re “upside-down” in your property.

Whether your rental property generated money when you initially bought it but it no longer does or whether the property has been in a perpetual negative cash flow situation from the very start, holding onto a rental property that costs you money can become an untenable financial burden. Crunch the numbers to see if the rent covers all of your expenses. If owning your Pittsburgh-area rental property continues to be both a financially and emotionally positive experience for you, then you should continue owning it.

How Much Is My Pittsburgh-Area House Worth. To say the US housing market has been unpredictable the past few years is an understatement. Some markets have fluctuated wildly. On the whole, Pittsburgh’s market has been nowhere near as crazy of a roller coaster ride as places like Los Angeles or Las Vegas but the Pittsburgh market was still affected by the 2008 real estate market crash and its subsequent recovery. As such, many homeowners do not have an accurate idea as to what their home is really worth. And more times than not, if a homeowner is unsure of the value of their home, they usually believe it’s worth more than what it’s actually worth. It’s human nature for people to sometimes have outsized expectations regarding the price of their home.

This is due to any number of reasons including only seeing the good elements of their house to having emotional connections to their homes, which can cause them to unintentionally elevate its price. Have a look at your property tax bill and find the Taxable Market Value. Benefits Of Selling Your House Fast. Okay, you’ve decided to sell your Pittsburgh-area house. If you’ve made this decision, you probably want to sell your home as quickly as possible.

That makes total sense. Here are a few benefits to selling your home quickly: Get some additional money in the bank quickly. You can put this money away for a “rainy day” or use it in the short-term to address possible debts or deal with any other personal financial challenges you may be currently facing.Get your life moving forward as soon as possible. Once you sell your home, it will no longer occupy any of your time. Ironically, if you choose to sell your home through a real estate agent, you may be unintentionally putting yourself in a position that will negatively impact your ability to sell your home quickly. If you’re serious about selling your home quickly, the best solution may be working with a real estate investor. That’s it. I Just Inherited A Home. What Now? You’ve just inherited a home. What do you do next? From a practical point of view, you should probably first assess the home’s current and future financial obligations.

A good cross-section of questions you should ask: Does the home still have a mortgage or is it free and clear of any lenders? What are the home’s tax obligations? There may be other costs associated with the home unique to your situation. Aside from the practical considerations, we also encounter many individuals who have an emotional connection to a home. Perhaps the best piece of advice in the aforementioned situation is to objectively assess your overall financial situation, as well as your future lifestyle goals, and then simply ask yourself, “Am I better off keeping the house or would I be better served to use the money from a sale toward other desires or financial obligations?”

After you determine the answers to all of the above questions, you can then determine whether you wish to keep the home or sell it. Are You Looking To Downsize? Are you looking to downsize your home? Type the words “downsize your home” into an online search engine and see how many hits you get. The number is staggering. The reason why? Bigger isn’t always better and many people are opting to both simplify their lives and lessen their financial burden by seeking smaller living spaces. People find themselves in big homes for a variety of reasons: They are building a family and need the space.They get a promotion or a job change with an accompanying salary increase.They wish to impress others.Having a large home is part of the American dream, is it not?

More and more Americans though are choosing to “go small.” Aside from that reason, here are eight additional reasons why downsizing might benefit you: You can make some additional money. If you’re exploring the possibility of downsizing to begin a simpler life with more financial freedom, you will likely need to sell your current home. Have You Unexpectedly Lost Your Job? Other than a life-threatening illness, the end of a relationship or the death of a loved one, there are few things in life that can cause more stress and emotional pain than losing your job.

If you’ve suddenly found yourself without a steady income AND you’re a homeowner, you’re undoubtedly dealing with some additional anxiety related to potentially losing your home. Finding yourself in a situation whereby you no longer have the financial means to continue making your mortgage payments can happen quicker than you think so, if you find yourself in this scenario, your initial order of business is to know your options. The first and most logical thing to do is contact your lender. This is especially important if you have already fallen behind on your payments. Be advised though that some options are only available to you while your mortgage is still current. Aside from your lender, the Home Affordable Modification Program may be another option to provide you with financial relief. Dealing with Bad Tenants. Being a landlord can be a difficult and time-consuming job even under the best of circumstances but, if you have problematic or even criminal tenants, being a landlord can turn into a real nightmare.

It seems simple: don’t rent your property to terrible tenants and you won’t have horrible problems. Unfortunately, even if you perform your due diligence during the application process, renting to someone you don’t know or even to someone you do know for that matter will always be a calculated gamble. Tenants have been known to destroy homes or abandon a property with zero notice. Ever dealt with a high-maintenance tenant? Someone that calls you every week needing to have something repaired? Continually asks for a new paint job, new carpets, new appliances or any other endless request?

One of the worst renting scenarios is to discover your tenant is conducting criminal activity on your property. You believe this is happening, you are obliged to call the police. I’m Moving From Pittsburgh. I Need To Sell My House. Are you leaving Pittsburgh either by choice or due to a job transfer? No matter the reason for relocating, if you are currently a homeowner, one of the most important items on your To Do List prior to departing Pittsburgh is to determine what you wish to do with your house. Your two basic options are either to sell your house or to continue owning it and use it as a rental property.

Either scenario has its pros and cons. Are you ready to be a landlord? Whether you’ve been one before or this is the first time you’ve ventured into this area, there are a few things you need to consider. The primary benefit of turning your home into a rental property is that it can generate income for you. However, this is only true if the rental income covers your mortgage, taxes, repairs and everything else associated with the home. Given that you’re leaving Pittsburgh, the reality of being a landlord from afar can create its own headaches. Sell Your House With A Realtor Using a realtor also isn’t cheap. My Neighbor Is A Ravens’ Fan. Few things in life are more unsettling than discovering your neighbor does not share your love of the only professional sports teams in the world that matter: the Steelers, Penguins and Pirates.

You don’t encounter it too often in Pittsburgh but every once in awhile you’ll stumble upon a person or, even more tragically, a group of people that have made bad life decisions concerning the sports teams they’ve chosen to support. If you’ve never experienced it, it’s hard to appreciate the horror associated with finding out your neighbor is a fan of the Baltimore Ravens, New England Patriots or some other team ill-suited to play the great game of football.

This neighbor may even appear outwardly decent and honorable but, as anyone in the 412 can tell you, “Pittsburgh has the Terrible Towel. Everyone else just has terrible teams.” And what if you found out your neighbor was a Cleveland Browns’ fan? Do you think Mario or Sid the Kid would put up with such nonsense? Real Estate Agent versus Real Estate Investor. What is the difference between a real estate agent and a real estate investor? More importantly, which one is best for you? If you’ve made the decision to sell your Pittsburgh-area home, your next decision is to determine the best method to accomplish your goal. To that end, here are some thoughts comparing a real estate agent with a real estate investor. The main benefit to listing your home with a real estate agent is that this individual will ideally have plenty of experience selling homes.

As we well know though, we don’t live in a perfect world. Real estate agents charge a commission for their services. The primary benefit to working with a real estate investor is that the above problems can be addressed and solved. Unlike a real estate agent who can waste an indefinite amount of your time trying to find someone to buy your property, a real estate investor like All Cash For Homes PGH will: Our process is intended to be simple and straightforward. Should You Sell Your Rental Property? | All Cash For Homes PGH. How Much Is My Pittsburgh-Area House Worth | All Cash For Homes PGH. Benefits Of Selling Your House Fast | All Cash For Homes PGH. I Just Inherited A Home. What Now? | All Cash For Homes PGH.

Are You Looking To Downsize? | All Cash For Homes PGH. Have You Unexpectedly Lost Your Job? | All Cash For Homes PGH. Dealing with Bad Tenants | All Cash For Homes PGH. I’m Moving From Pittsburgh. I Need To Sell My House. | All Cash For Homes PGH. My Neighbor Is A Ravens’ Fan | All Cash For Homes PGH. Real Estate Agent versus Real Estate Investor | All Cash For Homes PGH. “I Just Inherited A Home. What Now?” - All Cash For Homes PGH. You’ve just inherited a home. What do you do next? From a practical point of view, you should probably first assess the home’s current and future financial obligations. A good cross-section of questions you should ask: Does the home still have a mortgage or is it free and clear of any lenders? There may be other costs associated with the home unique to your situation. Aside from the practical considerations, we also encounter many individuals who have an emotional connection to a home. Perhaps the best piece of advice in the aforementioned situation is to objectively assess your overall financial situation, as well as your future lifestyle goals, and then simply ask yourself, “Am I better off keeping the house or would I be better served to use the money from a sale toward other desires or financial obligations?”

After you determine the answers to all of the above questions, you can then determine whether you wish to keep the home or sell it. Are You Looking To Downsize? - All Cash For Homes PGH. Type the words “downsize your home” into an online search engine and see how many hits you get. The number is staggering. The reason why? Bigger isn’t always better and many people are opting to both simplify their lives and lessen their financial burden by seeking smaller living spaces. People find themselves in big homes for a variety of reasons: They are building a family and need the space.They get a promotion or a job change with an accompanying salary increase.They wish to impress others.Having a large home is part of the American dream, is it not? More and more Americans though are choosing to “go small.”

Aside from that reason, here are eight additional reasons why downsizing might benefit you: You can make some additional money. If you’re exploring the possibility of downsizing to begin a simpler life with more financial freedom, you will likely need to sell your current home. Have You Unexpectedly Lost Your Job? - All Cash For Homes PGH. Other than a life-threatening illness, the end of a relationship or the death of a loved one, there are few things in life that can cause more stress and emotional pain than losing your job. If you’ve suddenly found yourself without a steady income AND you’re a homeowner, you’re undoubtedly dealing with some additional anxiety related to potentially losing your home. Finding yourself in a situation whereby you no longer have the financial means to continue making your mortgage payments can happen quicker than you think so, if you find yourself in this scenario, your initial order of business is to know your options.

The first and most logical thing to do is contact your lender. This is especially important if you have already fallen behind on your payments. Don’t wait for your lender to contact you. Be advised though that some options are only available to you while your mortgage is still current. Choice is to sell your house. Dealing with Bad Tenants - All Cash For Homes PGH. Being a landlord can be a difficult and time-consuming job even under the best of circumstances but, if you have problematic or even criminal tenants, being a landlord can turn into a real nightmare. It seems simple: don’t rent your property to terrible tenants and you won’t have horrible problems. Unfortunately, even if you perform your due diligence during the application process, renting to someone you don’t know or even to someone you do know for that matter will always be a calculated gamble.

Tenants have been known to destroy homes or abandon a property with zero notice. Ever dealt with a high-maintenance tenant? One of the worst renting scenarios is to discover your tenant is conducting criminal activity on your property. Believe this is happening, you are obliged to call the police. The most common problem landlords face with tenants though is probably a more straightforward issue: unpaid rent. "I’m Moving From Pittsburgh. I Need To Sell My House." - All Cash For Homes PGH. Are you leaving Pittsburgh either by choice or due to a job transfer?

No matter the reason for relocating, if you are currently a homeowner, one of the most important items on your To Do List prior to departing Pittsburgh is to determine what you wish to do with your house. Your two basic options are either to sell your house or to continue owning it and use it as a rental property. Either scenario has its pros and cons. Are you ready to be a landlord? Whether you’ve been one before or this is the first time you’ve ventured into this area, there are a few things you need to consider.

The primary benefit of turning your home into a rental property is that it can generate income for you. Given that you’re leaving Pittsburgh, the reality of being a landlord from afar can create its own headaches. Most out-of-town landlords choose to address this geographical challenge by getting a local property management company to oversee all matters related to their house. Sell Your House With A Realtor. "My Neighbor Is A Ravens' Fan" - All Cash For Homes PGH. Real Estate Agent Versus Real Estate Investor - All Cash For Homes PGH. Have You Unexpectedly Lost Your Job? - All Cash For Homes PGH. Dealing with Bad Tenants - All Cash For Homes PGH.

"I’m Moving From Pittsburgh. I Need To Sell My House." - All Cash For Homes PGH. "My Neighbor Is A Ravens' Fan" - All Cash For Homes PGH. Real Estate Agent Versus Real Estate Investor - All Cash For Homes PGH. Sell Your House Fast | All Cash For Homes PGH. Sell Your House Today. We offer all cash for homes in Pittsburgh. | All Cash For Homes PGH.