My late hubby was a large time rental guy, she had all sorts of single family rental homes plus duplexes for rent… When she died it all fell to me.
Inherited properties are kind of a nightmare in disguise.
I thought it would be good having all that money with assets I didn’t purchase. Well what I made on rent wasn’t worth the work, even hiring a property supervisor wouldn’t have made a difference. I decided that I was going to sell all the inherited properties. I didn’t want to be a real estate tycoon after all. I started off listing every property on zillow plus using a real estate agent, quickly it became obvious that wasn’t the right move. It took months plus occasionally even a year to get a property sold. It was constant back plus forth with the buyer. I would need to service a sink, pay for a current roof or pay for closing costs. I wanted to sell my current home without making repairs. I wanted no closing costs. I did some research when it came time to sell my duplex. I realized that selling my duplex fast for cash was the best option. With a cash offer buyer, I wasn’t required to sell it through the market. It was an off market deal which meant I didn’t need to make repairs, scrub it or even show the property. The woman just gave me a number plus was willing to accept it as is. That closing date was when I picked it plus the whole process took a few weeks. I will never list a property on the market again.