I invested into rental properties as a simple and safe means of earning a steady income.
I purchased houses in the Jacksonville area at a reasonable price because each one was in need of updates.
I dipped into my savings and took out loans to cover the repairs and improvements. I made sure that the rental homes were safe, secure and comfortable places to live. Along with modern appliances, energy efficient amenities and effective storage, I focused on curb appeal. I painted the interior and exterior, created gardens and planted shade trees. I focused on renovations in the kitchens and bathrooms. The process was a great deal of work. I spent a lot of time and money to make these living spaces inviting and appealing. I assumed that the rental properties would be maintained in decent condition. I had hoped that the renters would take pride in their dwellings. Within two years, the properties were a mess. My tenants didn’t keep up with yardwork or maintenance. There was garbage strewn all over the place, holes in the walls and damage to everything from the electrical to the plumbing fixtures. I was extremely frustrated and discouraged. The majority of my tenants were delinquent in paying their rent. Some of them moved out in the middle of the night, with no notice and without settling their accounts. The stress interfered with my everyday life. I decided to sell my rental properties, take the money and invest into a completely different business. I looked into a conventional sale but quickly realized that the properties wouldn’t satisfy a home inspection. I considered different options and determined that a cash home buyer was the most advantageous avenue. The cash home buyer provided an estimate the same day and completed the closing within fourteen days.