I’ve been doing real estate investing in Richmond Virginia and other states since 2005.
I’ve bought and repaired houses, sold them, plus helped accidental or tired landlords to get rid of their problem rental properties.
Yet I wound up holding on to a house when the market crashed around me. Â Here is how I solved that problem.
I didn’t want to be a landlord
Let me tell you a story.
I bought a house to fix it up and sell it.Â That was in 2006.
I renovated that house and tried to sell it in 2007.
You likely can guess what happened.
The real estate market crashed as mortgage lending dried up, sellers panicked, and Wall Street Banks were caving in.
I wasn’t able to sell my house.
I had tried adverting my house.
I even had my house listed with a real estate agent.
The Pain of holding a vacant rental property
For several months, I was painfully dishing out money every month on an empty house that couldn’t sell.
- Mortgage payments,
- Electricity payments,
- Water bills,
- Rehab insurance, and
- Even Grass Cutting bills.
Each month, that was a lot of money out of MY pocket on house that sat empty.Â It felt like money going down the drain.
The Fear of Becoming a Landlord
To stop the pain, I became an accidental landlord.
I didn’t want to.
My father was a landlord for over 25 properties at one point, so I knew the problems that tenants could be.
I didn’t want find a career renter who would come up with monthly excuses on not paying rent on time.
I was afraid to find a drug addict and dealer who would turn my house into point of sale.
I was afraid of someone simply not taking care of the property that I had invested so much money in.
I was afraid of being deceived by people who could “present themselves” well, but then screw me over on the backside after getting in my house.
The Solution that Worked for my Rental Property
But, instead of renting to anybody, I set my house up on a rent to own situation.
It’s the same solution that I’m offering you.
I found a person who wanted to buy the house, but had some dings to their credit which prevented them from getting a mortgage.
I was SOOOOOOOOOO relieved.
My mortgage was covered by the rent payment I collected each month.
My tenant paid the utilities and cut the grass.
That tenant took great care of the house, just like they were owner.
All I had to do was collect rent each month. They eventually bought the house.
Can’t sell your vacant rental via traditional methods?
Perhaps you are an accidental landlord like I was.
Maybe you tried to sell, but you discovered that modern buyers want fancy things that your house doesn’t have.
Maybe you tried to sell on your own, but you couldn’t find any qualified buyers to make an offer on your home.
Maybe you’ve had your house for sale through traditional means, but it just sat empty, sucking money out of your wallet each month waiting for some buyer.
Maybe you had only 2 showings in 6 months.
Let me Buy or Lease your Rental Property
I’d like to buy or lease your rental property.
I’m one of the manyÂ “We Buy Houses” Companies in Richmond VA.
Each month your house sits vacant, you are losing anywhere from 800-1500 a month, maybe more, depending on the size of your mortgage payment.
That hurts.Â I once had a vacant house at $1900 a/month mortgage.Â That was painful while it sat and sat empty form months while we tried to sell it.
Maybe you have a strong fear of finding a bad tenant.Â I can identify with all your fears.Â I’ve been there.
So you’ve settled to rent your property in the hope that your mortgage payment will at least be covered.
You hope you can find a good tenant.Â This is where I can help you.
I’ve got the experience to buy your house either for cash in its current condition, or lease your house for a few years with the goal of buying it.
I’m not a real estate agent.Â I’m a professional home buyer who wants to find a way to buy your home.
Your Rental Property Sold
Let me buy your house.
You’ll get your house sold at a fair price.
Or your monthly holding costs that drain your pocketbook while your house is empty will be covered.
If you know that you want to do something now, just pick up the phone and give me a call.
Shoot me a text message – here is the number – 804-719-1489.