Learn How Howard Beizer Walked Away Stress-Free From His Difficult Rental
Owning a rental property sounds like a great way to make passive income. But as Howard Beizer learned while renting out his property in Newport News, VA, that’s not always the case.
We’ve seen many landlords over the years reach a breaking point when a problem tenant causes damage to their property. That’s exactly what happened to Howard. After years of being a successful landlord, he was ready to move on.
Unfortunately, his property was left in rough condition. The house had a terrible smell from years of smoking inside, and it needed many repairs, a full cleanup, and a lot of updates that Howard simply didn’t want to deal with anymore.
Like so many landlords we’ve worked with, Howard wasn’t trying to get top dollar on his property from doing the renovations himself. He wanted a simple, easy, and fast sale to finally be done with the headache of being a landlord.
That’s when House Buyers of America stepped in to help.
Why Are Damaged Rentals So Hard To Sell Traditionally?
Before becoming landlords, many people don’t realize just how hard it can be to sell a rental property that’s been heavily lived in. In today’s market, traditional buyers don’t want to buy a fixer-upper; they want homes that are ready to move in right away.
Add in the fact that Howard’s home had a strong smoke odor, and it would be almost impossible to get buyers to stay long enough to see the house’s potential. In our experience, smoke damage is one of the hardest challenges to overcome, and we’ve seen sellers spend thousands trying to remedy it, only for buyers to walk away anyway.
In Howard’s case, the smoke damage wasn’t the only issue. The home had many needed repairs and was outdated after years of being rented. So, for landlords in Howard’s situation, selling on the traditional market would be as hard as continuing to rent the place out.
The Hidden Cost of Holding On To A Problem Rental
Sometimes landlords think it’s still valuable to hold on to a rental property that’s become decrepit and needs extensive work. They think that as long as they put the time, money, and work into repairing it, they can find another tenant, and that this time it’ll be better.
More often than not, we see those same landlords begging to get rid of the rental when yet another bad tenant ruins the home they spent so much on fixing.
Plus, while landlords are taking the time and money to fix up the rental, they still owe on the mortgage, taxes, insurance, and all other utilities. Depending on how long the repairs take, they can go months without recouping any of that money.
We’ve worked with many landlords who realize that putting more money into a stressful property simply doesn’t make sense anymore. For them, it comes down to cutting ties with the property and disposing of it as soon as possible, rather than waiting to sell it traditionally to get top dollar.
A Simple As-Is Sale Without Adding More Stress
Once Howard reached out to House Buyers needing help, we knew we could provide the solution he was looking for. We could buy his property As-Is, as we’ve done for many landlords, and help him walk away with cash in hand within 30 days.
We purchased his home As-Is, so he no longer had to worry about repairs, cleaning, throwing away the junk the tenants left behind, or making any updates. Best of all, he didn’t have the headache of remediating the awful smoke smell throughout the house.
What Happend After We Bought The Home?
Once House Buyers owned the home, we got straight to work restoring it. We updated the kitchen by refinishing the cabinets and upgrading the space with quartz countertops. We added a tile backsplash and stainless steel appliances.
All of the bathrooms got new vanities, plumbing, and refinished tubs and tiling.
Throughout the entire home, we ripped up the old flooring and installed new LVP, tile, and carpet flooring. Because of the smoke smell, we repaired and cleaned the drywall, added a fresh layer of paint, and added Shiplap and acoustic accent walls.
We also repaired the HVAC system, upgraded all of the lighting, and completely modernized the home.
On the outside, we painted the doors and shutters. To improve the curb appeal, we cleaned up the landscaping and pressure-washed the home.
A New Start Without The Stress
The biggest benefit to Howard was his new stress-free life. He no longer had to worry about spending money to fix up his rental or ever deal with disrespectful tenants again.
Unfortunately for Howard, we see landlords in situations like his all the time. Rental properties can quickly become overwhelming. Having a reliable way to sell As-Is without repairs or delays makes all the difference.