Home Selling in Killeen>Question Details

James Trieu, Home Owner in Killeen, TX

seeking advice on whether to sale or rent the house.

Asked by James Trieu, Killeen, TX Mon Sep 17, 2012

Hi, I own a 3bd, 2ba, yr 2007 single family home, which has been paid off. the house is on the market for sale for the last 4 mo, and only 1 offer (failed thru, loan denied). I'm tired of paying for the monthly maintenance and the utilities (water, electric) bills while the house is sitting empty. Listing price is 8K less than I bought. I'm thinking renting it out, but heard bad renters experiences in Killeen. Any advice on continue to list the house on market or move it to rental investment is greatly appreciated. BTW, I live out of state. Thank you.

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Hi James,..I have rented my house in Austin and I am getting really good returns on it. I would suggest you to rent out your home as home ownership has its own tax benefits too. I hired Tropicana realty homes as my agents, they guided me throughout the rental time period. You can also get in touch with a reliable agent in your area.
0 votes Thank Flag Link Fri Dec 7, 2012
You can put it on the market for rent and sale at the same time to have both areas covered. Which ever comes first either way will relieve some burden off you. It's taking longer for homes to sale so you really can't determine how long it will sit. Yes, you have to be careful when choosing Property Mgmt companies because there are so many bad ones they give the good ones a bad name. If you need help in choosing a property management company give me a call and I'll point you in the right direction.

Pamela Moore
Coldwell Banker United Realtor
254-291-0098
0 votes Thank Flag Link Tue Sep 18, 2012
At StarPointe Realty we know that your home is your biggest investment.

Here are a few reasons why you can feel great about StarPointe Realty managing your property.
1. All rental applicants are screened and previous rental history checked.
2. We take video/photos of your home prior to renting for undeniable reference.
3. We fill out an exhaustive property condition report prior to renting.
4. We prepare all rental agreements for your review and to sign'
5. Quarterly inspections with quarterly reports to you, the owner.
6. No upfront fees.
7. We advertise on local and national websites for greatest coverage.
8. Easy pay options for all parties including online payments.
9. Regular communication with owner and tenants.
10. Highly trained staff to help with any of your management needs.

If you would like more information please feel free to give me a call.

Jessica Ibrom - REALTOR®
StarPointe Realty Central Texas LLC
Cell 254-833-3486
Office 254-213-3290
Licensed in the state of TX
0 votes Thank Flag Link Tue Sep 18, 2012
James,
The answer will come down you your personal situation, which we don't know enough about to offer final advice on. I will suggest that you not base your decision to rent on one bad story however. Tenants have rights and some abuse and exceed them to the downfall of a landlord, but not all. Knowing what is involved with being a landlord should be your first step to deciding if this is a valid option for you. Screening tenants through background, credit and reference checks can go a long way to avoid the nightmares. A quality property manager can provide this service for less than your losing in monthly carrying costs now.
Ultimately the financial choice will come down to what you think the market will bring now versus later and if you are willing to be a landlord. Talk to some local property managers about their services, fees and your prospects for a good tenant in the home. In many markets, good rentals are hard to find and rental rates are going up. Holding on while property values do too may be a great choice for you.
0 votes Thank Flag Link Mon Sep 17, 2012
You have an agent who listed your home. They should be able to give you the local pulse of the real estate market and demand for rentals.

The question is what is your goal? Your house is paid off, so even though you are listing it for less than you paid it is considered an equity sale. If you are tired of paying the cost associated with holding the property discuss rent to own options with you agent. That could be a win-win in your situation.

Have an amazing day!
Web Reference: http://www.terrivellios.com
0 votes Thank Flag Link Mon Sep 17, 2012
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