Do you own a rental property in Blanchard, OK? Make sure you know the surprising truth of being a landlord in Blanchard because it’s not always what you think it’s going to be…
Owning a rental property seems like a great idea. You buy it cheap, you find a tenant, and then you profit from the rental income while you manage the property… how hard could it be?
Problem is, it’s often much harder than people realize and you may find (as many landlords do) the surprising truth of being a landlord in Blanchard: At times it seems you may give up your personal life – no more private time, no more vacations, no more weekend getaways… all because you’re so busy being a landlord.
Owning a rental will keep you busy. There’s the work required to find the property, then fix it up, then find and screen a good tenant, then answer the phone from them every time they call. Even if they call late at night because the toilet is overflowing, you have to take their call and deal with it. That means: no more vacations, either, because what will happen if the toilet overflows while you’re in a different country? Alternatively, you can hire a property manager but they will require a piece of the profit every month.
Some landlords try to own a rental property while they have another job but many discover that it’s just as time-consuming… it’s like having a second full-time job! Between chasing down your tenants to fixing things around the house, it’s one thing after another and you may simply not have time to work at your other job… and that’s with ONE rental property. Landlords who own multiple must hire a property manager or find a way to create their own property management systems.
Rental properties aren’t cheap. Sure you get some rental income from the tenant but you also have to take care of the property, fix it up, make upgrades, and repair it if the tenants trash it when they leave. In other words, the costs add up and the financial rewards of owning a rental property may not stack up to be worth your time. It certainly is a numbers game. And, it can be a very lucrative one when done correctly.
You’ve got so much to juggle with rental property, and you worry about it constantly, and perhaps you even fear opening the mail because you may find bad news in the next envelope. That’s no way to live.
If you own a rental property and want to get rid of it, we can help. We buy properties (even frustrating rental properties that have damage or bad tenants you can’t get rid of). Can we make you an all-cash offer on yours? Or, if you really enjoy that monthly passive income but would like to avoid the tenants, toilets, and stress then becoming the bank and carrying the financing might be a suitable alternative for you. We can discuss all this and more to help you achieve your goals. Call or contact us anytime.