Tired of Being a Landlord?
Are you done being a landlord? Are you sick and tired of dealing with tenants, repairs, collecting rents, and all the headaches that can pop up in owning rental property? Being in the real estate rental business for over 20 years, we have just about seen it all. Maybe one of these scenarios is you, or maye you can surprise us with a new disaster, but many burned out landlords feel something like this:
- I never wanted to be a Landlord in the first place
Some people inherit a property, or they can't sell a house before they move into a new one and end up with 2 houses. Maybe they had to bail out a family member, or any other reason that people end up with having a vacant house, and end up renting it out. Being a landlord is a full time business even though many people are successful as a part time landlord, those people choose to be a landlord and sacrifice time or money to own rental property with a full time regular "job".
Many people in this situation will have a rental property that they no longer want, and more than likely, the house will need repairs. They are evicting, or are in the process of evicting a "bad" tenant who owes several months of rent and have destroyed the house. That is right up our alley, we have a full time staff of contractors and professionals, and even an attorney on retainer. We buy rental homes whether the house is in great condition or run down and destroyed, we buy houses with good tenants as well as deadbeat tenants who need to be evicted.
- I tried to be a Landlord and it is NOT for me
- Did you bite off more than you can chew? Many new landlords don't realized the amount of work involved and they are not prepared to handle it. The good side of being a landlord is that you can pay someone else to do all the tasks involved. The flip side of that is that it can cost you more than you get back in rent. The more you hire out, the less you make and negative cash flow can eat your lunch. If you don't hire it out, you have to do it yourself, and unless you are familiar with the construction business, repairs can go over your head. Unless you are a handyman who can do plumbing, electrical, heating and air conditioning, make ready, cleaning, carpenter work, and the list goes on.... deferred maintenance will add up on a house. Eventually no one will want to rent it, or not at the normal rent range (to cover the mortgage) and with the extra turnover and vacancies, being a landlord can be a real headache. As full time landlords and property managers, we can handle being a landlord, after all, that is our "regular day job". We can take the burden off of your back.
- I no longer live in Tulsa (or never have) and I hate being a landlord on property where I don't live
- We see this a lot when people move out of Tulsa and don't want to be a long distance landlord. We also see out of state real estate investors who pay too much for houses in the wrongs parts of town and end up with vacant, vandalized, and houses that most property managers won't even touch (manage). We have a lot of rental property in North and West Tulsa in the low income areas. In fact, some of our best rentals are in North and West Tulsa. We even have them east, south, and midtown, but we like to keep rental property in neighborhoods under $130,000.00.
- I have been a landlord for awhile and I have just had enough and want to move on to something else
- Congratulations, you have made it past the first few years. But even so, some people still get burned out with rental property. If you are ready to move on, even though you have good tenants and decent rental homes, we can still help. We have creative solutions and cash resources in order to buy decent rental property.
- I have been a successful landlord for years and I am ready to retire
- Many times when a Landlord wants to retire they can easily sell off the cream of the crop to either tenants or other landlords. After the good ones go fast, there are always a few that are hard to move. Several times we have bought the last remaining rentals that most other landlords don't want. Now don't get me wrong, we love the cream of the crop as well as the next guy, but we can also take the bad ones with the good ones. If you are ready to retire and clear your plate off all your rentals, let us know. We can buy one or the whole package. Or....
- Maybe you have a scenario not described here, if you let us know about it and maybe we can buy your unwanted rentals.