Do you own a rental property in McAllen? Make sure you know the surprising truth of being a landlord in McAllen because it’s not always what you think it’s going to be…
Owning a rental property may seem like a great idea. You buy it cheap, you rent it out, and then you get a check every month… how hard is that?
Problem is, it’s often much harder than people realize and you may find (as many landlords do) the surprising truth of being a landlord in McAllen: You end up sacrificing your personal life – no more weekends or vacations… it never fails something goes wrong with the rental when you are away…
Rental properties require work
Owning a rental will keep you busy. It takes time and work to find the property, fix it up, find somebody to rent it, and then be available to answer the phone every time they call. Even if they call late at night because the toilet is overflowing or the AC unit broke, you have to take their call and deal with it. Gets worse if the neighbors are calling in the police because the tenants are constantly partying… That means: no more vacations, either, because what will happen if the toilet overflows while you’re in a different country?
You need to dedicate time
Some landlords try to own a rental property while they have another job but many discover that it’s just as time-consuming… it’s like having a second full-time job! Between chasing down your tenants to pay rent, then fixing things around the house, it’s one thing after another and you may simply not have time to work at your other job… and that’s with ONE rental property. Landlords who own two or more get even busier.
They cost money
Rental properties aren’t cheap. Sure you get some rental income from the tenant but you also have to take care of the property, fix it up, pay taxes, make upgrades, and repair it if the tenants trash it when they leave. In other words, the costs add up and the financial rewards of owning a rental property may not be there for you.
There can involve stress
When you add up all of those things it means STRESS! You’ve got so much to juggle with the rental property, and you worry about it constantly, and perhaps you even fear opening the mail because you may find bad news in the next envelope.
If you own a rental property and want to get rid of it, we can help. We buy properties (even frustrating rental properties that have damage or bad tenants you can’t get rid of). Can we make you an offer on yours?