In The Corner

3 Kinds of ‘Last Recourse’ When Cash-Strapped

Options For You When You Need Cash FastWhen you are experiencing some financial difficulties at present and you are thinking of selling off your home, better consider opting for turn key rental. It may be the best solution for your economic woes.

With a not-so-good economy and with many bills to pay, money problems can sometimes become too burdensome; you may find yourself pushed to the edge. When this happens, you have several options available. Of course, if you are employed, you may avail of a loan, but when you have is a property, you may need to look at other options.

Be Ready to Let Go

If you find yourself in dire straits but you still have some property left, you can always make use of your property to get you some funds. You actually have three options in your hands. First, you can opt to mortgage your property, that is, if it is not yet tied with some lender. Second, you can sell your home. This option may give you a huge windfall, but with many people also selling their homes, it might take a bit of time before your property gets bought. Plus, Investopedia said that this is an emotionally challenging exercise. Third is to go for companies specializing in turnkey rentals.

The Best Option

Among the options that you have, the best one may be to go for the third option. Why? These companies engaged in turn key rentals are serious in buying your property so that they can remodel or renovate it and lease it out for the long-term. This is their primary business, which means that they have the money to spend for it. These companies have already surpassed the stage where they are still wondering how to get started in turn key rentals. You can say that they already have a good grasp of it all.

Still Live In It

Since the investment company would be leasing out the property, you might want to take a shot to be the lessee of your own home. This would be a good option if you don’t really want to completely part with your property. On the other hand, if you deem that the experience of losing your home is really hurting, you can always lease the home for you and your family. Forbes even mentioned that a rental is better than buying another house after you have sold yours.

There are three things that you can do with your home asset in case you need cash. In today’s times, however, going for turn key will be the best option. You get to sell your home and at the same time, you will have the chance to live in it as a lessee.