QUESTION: CAN WE WORK WITH A REALTOR WHILE WE ARE OUT OF STATE OR DO I NEED TO SELL IT TO ONE OF THOSE CASH FOR HOUSE COMPANIES
We bought a house when we moved to a duty station with the intent to rent it out. We hired a property management company, this was always the plan. Now that we’re PCSing, I don’t think I have the risk appetite to do this long term. Even with a property manager, this is too much stress. It’s at a small base in a small town. I can continue to make payments, but I don’t think I want to rent it out long term. How can I get this house off my hands? It’s in a really small town, open door isn’t even out here.
Do we use one of those buy house now companies and they can do what they want with it? Or can we work with a realtor even though we’re out of state?
This is our first home, we’re both young, no regrets in buying this house. I just want advice on making a plan B.
Can someone give me advice on what to do about our house?
byu/Greektwinmommy inMilitaryFinance
Posted by Greektwinmommy
7 Comments
Not sure what you’re asking. Are you upside down in the house?
I’m same as you on not wanting to be a landlord. I’d sell it.
Ummm… Sell it?
I mean, there’s really only two options; rent it out, or sell it.
If it’s not a stupid drive from the base, even if it’s a small town there will be someone who wants to live there.
Are you upside down on it?
Rent it out to Military? Try joining one of the local Military Facebook groups and there’s normally someone always asking for a rental
Same situation out of New Mexico. We decided to sell and actually made money considering we put 0 down using the VA home loan. We were already in Utah when we sold it so yes you don’t have to be present to sell. The realtor did everything in fact it sold within two weeks.
We decided to sell for the reasons you mentioned the risk.
If the house is in good condition and your property manager screens tenants thoroughly, it can only be a positive thing to rent it out. Your tenants will pay your mortgage and you’ll hopefully have positive cash flow.
Real estate is the key to long-term wealth and passive income.
I’m not sure if anyone answered your question, but yes you can sell the house and not be physically present in the state. The title company will just hire a notary to help with the closing or you can designate a POA. Very simple process.