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Ronda Allen's Blog

By Ronda Allen | Agent in Amarillo, TX

Can't sell? Renting may be an option

Been up for sale for a while now, and can't chase the market with your list price to where it needs to be to sell?  That's very common right now.  You may not have been considering converting your personal home into an income-producing investment property, but it may be necessary or just good business to at least talk it over.  I am in the process of converting a home for sale in Frisco into an investment property for an owner who doesn't want to chase the market by sacrificing equity in his home.  One of the best things about a full-service brokerage firm is having a full-service Property Management Group in-house.  We handle converting the home to a rental, finding a tenant, background and credit checks, spot checks on the home, service calls, and rental payment processing.  The owner gets a check every month.  The best of investing (money) without the headaches of being a landlord.  We also go a step further and investigate refinance and/or reduction in taxes and insurance, to help ensure maximum profit potential as a home converts from a personal home to an investment property.  Demand for rentals is on the rise, and some areas of the North Dallas suburbs are currently short on choices in certain price points.  That's why we get calls on resale properties asking if the owner would consider renting.  Too much demand for rentals and not enough supply.  Basic supply and demand:  Rents are rising and landlords are achieving higher profit margins on their investments.  Investigate all your options, and know that you aren't alone.  Professional real estate agents have the know-how to find profit opportunities in any market conditions.

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