Sell a House That’s a Rental Property
So many people are struggling to pay their mortgages now, during the Coronavirus pandemic, and I am one of them. I am struggling, too. I must sell a house that’s a rental property because it’s vacant and is not producing income for me.
There was a time when I had excess cash, so I invested in rental property to build my investment portfolio for the future. But now it seems we just need to make it through the day and hope we can make it through another day tomorrow, since so many people are out of work and have no hope of getting their old jobs back.
Even though I had a good job, I am furloughed now. There is no way for me to know when I will go back to work and receive my regular salary. My rental house is vacant, and I cannot afford to make the mortgage payments on it without the monthly rent checks coming in on the first of each month. Dipping into my savings to make mortgage payments is not sustainable and I am at the end of my resources to maintain the rental property.
Liquidating Rental Property Now
I set my monthly rent at a certain level so that it would cover the mortgage payment. At the present time I do not have a tenant making monthly payments. I cannot lower the rent because then I’d have to make up the difference between the rental income and the mortgage payment. This is certainly a possibility for some landlords who are making a long-term investment, but it is not possible for me now.
I cannot make up the shortfall, or the difference between lower monthly rental income and my mortgage payment on the house. This is the crux of my problem – I have an asset that was working for me before Coronavirus hit and people could not afford their monthly rent payments, but now I have a burden I cannot afford to keep.
I can call We Pay Fast at 405-521-1807 or email [email protected] to sell a house that’s a rental property. They will call me back within 24 hours and we will discuss a cash sale of my property to We Pay Fast within a week to ten days.