Are You a Distressed Landlord? Our Investors Buy Houses for Top Dollar

Distressed landlord

Distressed landlord? It’s said that real estate ownership is one of the surest tickets to experiencing the American Dream. After all, statistics show more millionaires have been created through real estate than through any other avenue. No wonder homeownership is on nearly everyone’s radar.

One of the ways to make money in real estate is through rental properties. The real estate boom has created millions of landlords who collect billions of dollars in rent every month. But being a landlord is not always as glamorous as it’s made out to be.

Often times, owning rental properties can become a curse rather than a blessing. This happens when properties stop generating positive cash flow and instead become a nagging liability. These types of assets are referred to as distressed properties (landlords who own or operate these properties are in turn known as distressed landlords).

Distressed landlord

Are you a distressed landlord?

Is your rental property costing you more in upkeep than its generating in income? You’re not alone. In the United States alone, there are thousands of distressed landlords in any given day. Below are some of the reasons a landlord may find themselves in this predicament:

  1. Economic downturn

Landlords who own multiple rental properties can find themselves in distress if the economy takes a downturn. A recession, for instance, can result in mass layoffs. This affects the tenants’ ability to afford rent payments. If a landlord is still paying a mortgage on the same property, they can quickly become distressed landlords.  An economic downturn can also mean decreased demand for rental properties in certain market segments.

  1. Unwanted Inheritance

This situation can arise when a homeowner passes away and their next of kin inherit one or more properties they never wanted. Whether there is a mortgage on these properties or not, the inheriting party can quickly become a distressed landlord especially if they are not familiar with the world of rental real estate.

  1. Loss of income

A landlord can become distressed when they experience a loss of income. This can either be due to a layoff, job termination, sickness, or economic downturn.

4. Problem Tenants

Good tenants are a boost to any rental property income. But bad tenants can be a financial drain to the landlord. As mentioned above, bad tenants can also be a result of a bad economy or other factors that affect their ability to pay rent in a timely manner.

5. Divorce

Other than the emotional stress, divorce can wreak havoc on a couple’s finances. One of the parties can easily find themselves holding on to a property that they can ill afford (most married couples typically pool their income to pay the mortgage).

6. Taxes

Some property owners may find themselves unable to keep up with property taxes. This is can occur in the event of death, divorce, job loss, sickness, or even an economic downturn.

7. Foreclosure

The above factors can combine and result in foreclosure proceedings being initiated against the property owner.

Re-max investors help distressed landlord

Our Investors Buy Houses for Top Dollar!

Distressed properties are the kind of real estate that is offered for sale due to a looming repossession or foreclosure. But this can be avoided. Our investors can offer an attractive proposition to distressed property owners by offering to purchase these homes at very attractive values.

Need to get a no-cost quote? Contact Carolyn at 833-356-2946. No closing costs!

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