property management Archives - Handsome Homebuyer

Aug 2023

We’ll Buy Your Long Island House If You Owe Back Taxes

Glenn Haskings2024-04-17T16:33:57-04:00August 14, 2023|commercial property, property management, rental property, Sell My House, We Buy Houses|

Selling a home can sometimes feel like swimming against the current, especially when unpaid taxes are involved. Imagine your house as a ship navigating the real estate waters, with the weight of overdue financial burdens threatening to sink it. It would help to have a reliable and experienced crew to rescue you in such a situation. At Handsome Homebuyer, we are the crew you can count on to help you sell your Long Island property quickly and effortlessly, even if you owe back taxes.

Back Taxes

Life’s twists and turns can sometimes lead us to overlook financial responsibilities, and unpaid taxes can accumulate over time. Americans owe back taxes, penalties, and interest amounting to a whopping $120 billion. This is further exacerbated by the three percent increase in taxes imposed on single-family homes in 2022. If you are trapped in such a situation, acting promptly and seeking a solution to protect your equity and financial stability is essential.

Access Trapped Equity

Your home is a valuable asset. Even with unpaid taxes, substantial equity may be tied up in it. In 2023, the average homeowner possesses over $274,000 in home equity. Unfortunately, this amount can get trapped.

Traditional methods of selling a property can be time-consuming and costly, requiring repairs, renovations, and real estate agent fees. However, by working with Handsome Homebuyer, you can unlock that trapped equity and turn it into cash quickly and efficiently. We specialize in purchasing properties as-is, eliminating the need for repairs or additional expenses.

Sell It Fast To Handsome Homebuyer

Our Handsome Homebuyer team knows that selling a house can be overwhelming, especially when facing back taxes. Thus, we’ve developed a seamless and stress-free process enabling you to sell your property quickly.

Contact us: Feel free to reach out via phone or our website to express interest in selling your Long Island commercial property, land or home. Our friendly team will guide you and answer any questions.
Property assessment: We will schedule a visit to evaluate your home’s condition, size, and location for an accurate cash offer.
Receive a fair cash offer: We’ll present a transparent and competitive cash offer based on the assessment and market conditions.
Acceptance of offer: Take your time to review the offer without pressure and decide if it meets your needs.
Agree on the closing date: Choose a closing date that suits your schedule, whether you need a quick sale or more time.
Paperwork and documentation: We handle all paperwork efficiently, making the process seamless.
Closing the deal: We’ll meet on the agreed date to finalize the sale, providing cash payment and transparently handling all legalities.

Sell It To Us for Cash Quickly

Handsome Homebuyer offers cash purchases, unlike traditional buyers who might need bank financing and lengthy closing procedures. This approach allows us to close deals swiftly, sometimes in as little as seven days. When you need to sell your property fast to address back taxes, we are here to streamline the process, offering you a fair cash offer for your home’s true market value.

Read Our Reviews

We understand that selling your home is a significant decision, and you want to work with a reputable and trustworthy buyer. Our track record of satisfied customers more than speaks for itself. By reading our clients’ testimonials, you can see firsthand how we have helped numerous homeowners in Long Island resolve their back tax challenges and move on to a brighter financial future.

Final Thoughts

Selling your Long Island house when you owe back taxes might seem impossible, but Handsome Homebuyer is here to make the process smooth and hassle-free. We buy houses in Long Island if you owe back taxes and need to sell my house fast Long Island. Let us help you determine your property worth and take the first step toward a brighter financial future. Reach out to us today for a free instant cash offer, and let’s set sail toward a successful home sale together!

Jun 2023

Pay-Off Tax Liens By Selling Your Long Island House For Cash

Glenn Haskings2024-04-16T14:38:19-04:00June 20, 2023|house renovation, property management, rental property, Sell My House, We Buy Houses|

For most people owning a home is a dream come true. However, life can sometimes throw you unexpected challenges. One such challenge is the burden of tax liens. If you’re facing tax liens in New York, specifically on Long Island, there is a solution that can help you regain control of your financial situation. This blog post will explore paying off tax liens by selling your Long Island house for cash.

Tax Liens: What, How, and Why They Happen in NY

Tax liens occur when property owners fail to pay their property taxes. In New York, local governments can impose tax liens to collect unpaid property taxes. In February 2021, this amount was $1.3 billion.

These liens can become problematic for individuals as they accrue interest over time, leading to penalties and legal complications. If left unresolved, tax liens can result in the eventual foreclosure of your property. It’s important to promptly address tax liens to protect your financial well-being and home.

Pay It Off With Equity

There are various ways to resolve a tax lien. Some homeowners pay off the liens with their own cash, while others utilize the equity in their Long Island houses. Equity is the difference between the amount you owe on your mortgage and the market value of your home. When you sell your house for cash, you can unlock the equity and use it to pay off the tax liens.

This move can help you eliminate the burden of tax debt and regain control of your financial situation. However, it can also be a long, complicated process. Working with a reputable real estate agent or buyer is a must to ensure you get the best deal for your home and receive the payment quickly.

Benefits of a Cash Sale With Your Home

Selling your Long Island house offers several advantages when paying off tax liens, but you must also be aware of the risks and how to find the right buyer. It’s important to consider that many people have been leaving the city since the pandemic. Remote work has become the norm, and people are seeking bigger homes in suburban areas. However, this year’s median price of closed home sales is down 3% from January and 1.5% from February 2022.

On the other hand, the median home sale price in Long Island is around USD 600,000, with the median sale price per square foot at $390 USD. These numbers indicate a robust real estate market, which means competition can be fierce. When relying on real estate agents, finding a buyer and closing the deal can take months, meaning paying off your tax lien can take longer than you plan.

Fortunately, cash home buyers can help homeowners sell their homes quickly. Instead of relying on a real estate agent, selling your Long Island house directly to an investor for cash guarantees the following benefits:

Speed and Convenience: Traditional home sales can be time-consuming and involve numerous complexities. However, you can expedite the process when you sell your house for cash. Cash buyers like Handsome Homebuyer can provide a quick and hassle-free sale, allowing you to address your tax liens promptly.
No Repairs or Renovations: Selling your house as-is means you won’t have to invest time or money into repairs or renovations. Cash buyers are often willing to purchase homes in any condition, saving you the stress and expense of preparing your home for the market.
Avoiding Foreclosure: Selling your house for cash can help you avoid foreclosure due to tax liens. By selling quickly, you can settle your debts and prevent the loss of your home.

The challenge with selling your Long Island house for cash is falling for scams, which try to exploit desperate homeowners. It’s important to use a trusted home buyer with experience in cash sales, like Handsome Homebuyer.

Sell It To Us for Cash Quickly

Handsome Homebuyer is a reputable cash home-buying company helping homeowners facing Long Island tax liens. Our team understands the urgency of your situation and is committed to providing a fair cash offer for your property. By selling to Handsome Homebuyer, you can take control of your financial future and pay off your tax liens in a timely manner.

We buy homes as-is, so you don’t have to worry about making any repairs or renovations before you sell. Even if your home has fire damage or code violations, you can still receive a fair cash offer for your property. All you have to do is let us know you have a house for sale, and we’ll give you a cash offer based on the market value and condition. Should you say yes, you can pay off your tax liens in a matter of days instead of waiting months for a traditional sale.

Handsome Homebuyer helps homeowners struggling with bankruptcy, divorces, medical bills, and other financial hardships. We offer a stress-free solution to selling your house fast so you can get rid of debt and move forward.

Read Our Reviews

At Handsome Homebuyer, we understand that every situation is unique and we can help you to sell my house fast Long Island. You can read what others have said about working with us and see why we are the most trusted option.

Whenever you’re ready to pay off your tax liens and discover the actual value of your Long Island house, our team is prepared to help you. With our expertise and commitment to fair and transparent transactions, you can count on us to provide the absolute best value for your home. Request a free instant cash offer from Handsome Homebuyer today!

Apr 2022

Why Real Estate Investors Love Section 8 Tenants

Charles Weinraub2024-01-06T12:49:29-05:00April 5, 2022|property management, real estate investing, rental property, section 8|

Section 8 tenants have negative stigmas associated with them. Investors fear that Section 8 tenants will be destructive and lead to costly property repairs. Another concern is getting less than the market rate for rental units, reducing income, or that collecting rent will be problematic. However in the vast majority of cases the potential downsides of renting to Section 8 tenants are greatly outweighed by the benefits.

The past few years, many landlords have had significant impacts on their rental incomes due to the COVID-19 pandemic. But for landlords renting to Section 8 tenants, the government is paying the majority of the rent. The tenants themselves are typically responsible for an amount equivalent to 30% of their income, in most cases just a few hundred dollars. The portion paid by the government is sent directly to the property owner at the beginning of every month, ensuring timely payment of the majority of rents without spending time on collection.

Another benefit of renting to Section 8 tenants is the involvement of case workers. Most Section 8 tenants have a caseworker who advocates on behalf of both the tenants and the landlords. They act as a bridge between both parties and help to resolve problems in a proactive manner which can prevent the types of landlord/tenant conflict that can occur in private rentals.

Most Section 8 tenants who secure housing through these programs were on waitlists for many years (in some cases as long as 7 years) before they get their vouchers. This makes them highly motivated to maintain positive relations with their landlords and avoid any actions which could result in the loss of their housing voucher. Additionally, the average Section 8 tenant stays in a rental unit for 11.5 years, as compared to approximately 2 years for tenants in private rentals. So, while monthly rental income is reduced somewhat by working with Section 8 tenants, consider how much greater the loss of income is from vacancies.

Section 8 (and other government program) including lease back “sell my house fast Long Island” tenants are worthy of your consideration as a real estate investor. Get in touch with local agencies which frequently hold forums for landlords to explain the programs and specifics such as pricing and how to meet the requirements for becoming Section 8-approved.

Feb 2022

Top 5 Ways to Guarantee That Your Tenants Will Pay Rent

Glenn Haskings2024-04-18T09:35:03-04:00February 17, 2022|property management, rental property|

Collecting rent from your tenants can come with challenges but by employing some proactive strategies you can make rent collection less of a source of stress. These are the 5 ways you can guarantee that your tenants will pay their rent every month:

I rely on a 3x Net Rent Rule to help ensure that paying the rent won’t be a problem for the tenant in question. As an example, if I’m renting out a house for $2,000, the net income of the occupants needs to be three times that amount on a monthly basis, or $6,000. If this threshold isn’t met by a potential renter, I decline to rent the property to them.
Go with your gut! Listen to your intuition, if something in the back of your mind is giving you the feeling that a potential tenant will be the kind to give you problems about paying the rent, turn them down. Especially as an experienced landlord, you’ll develop a sense for whether people will be the type to cause problems.
Work with a rental agent. A good rental agent will be aware of all the available programs out there and help you get set up with good tenants. It’s in their best interest to make sure that they don’t place anyone in your properties that will give you a hard time about paying rent, and an experienced rental agent will also act as a filter when they can sense that someone will be the type to not pay.
Background and credit checks are a great way to get an overall picture of someone’s financial health and see if they have any history of non-payment with their other debts. This won’t tell you everything you need to know about a potential new tenant, but it can help you avoid anyone with obvious red flags.
Quarterly inspections. Every three months members of my property management team conduct full inspections of our properties. Not only does this help uncover any maintenance items that need to be taken care of, it also sends a positive message to the tenant: We care about the property, so they should also care about the property – good tenants will be happy to have a proactive landlord that takes care of the place that they’re renting, and happy tenants are far more likely to pay rent.

Issues can arise for even the best tenants due to extenuating circumstances, but by taking the steps outlined above you can steer clear of many potential problems and enjoy long-term, profitable relationships with your tenants to avoid having to sell your home fast in Long Island.

Jan 2022

The Different “Section 8” Programs Available to Landlords

Glenn Haskings2024-01-06T12:37:49-05:00January 23, 2022|property management, section 8|

A common misconception is that “Section 8” refers to all subsidized housing programs, but Section 8 is the name of a specific program and there are many similar programs available. For the purposes of this article we’ll discuss housing programs available on Long Island because it’s the area I’m familiar with. To help you understand the differences between these programs I’ll describe them and discuss some of my experience with them.

Section 8 – Each township has its own Section 8 program. The Town of Hempstead, the Town of Islip, etc., all have their own programs. Section 8 is a voucher-based program, and the vouchers are issued to the tenants themselves. The tenant can take this voucher from rental to rental, and the voucher acts as a substitute for cash. The Section 8 program typically pays landlords directly via check or wire transfer a percentage of the rent that’s due. The tenant is required to pay an amount of the rent equal to up to 30% of their monthly income. The rent that can be charged is set nationwide by HUD (The U.S. Department of Housing and Development) on a county-by-county basis. Typically, Nassau and Suffolk County have the same FMR (Fair Market Rent) set by HUD. As the landlord, I recommend you take the FMR and subtract the cost of utilities with the assumption that the tenant will be paying for them separately from their rent. These utility deductions will be dependent on the nature of the building. I also recommend that you attend some of the monthly forums that each town’s Section 8 program holds which provide a lot of information for landlords who are interested in working with Section 8 programs.

DSS – DSS (Department of Social Services) programs can be used in a few ways. It can be used in conjunction with Section 8 if a tenant isn’t able to meet rent requirements, and in some cases DSS can pay a tenant’s entire rent. A disadvantage of working with DSS vs. Section 8 or other programs is that whereas you have a lease agreement with the program itself in the other cases, with DSS the lease is with the tenant themselves. There is no case worker to turn to in the event of any problems and in the worst case you’ll need to proceed with an eviction yourself. There’s little risk of a tenant losing their voucher (as compared to a program like Section 8) as DSS is generally intended to be a temporary benefit for the tenant, so tenants have less incentive to maintain good relationships with their landlords.

CDC – CDC (Community Development Corporation) is a not-for-profit organization funded by the government that operates similarly to Section 8. There are case workers who help both the tenants and landlords keep things running smoothly, and it is an excellent program to work with. This is my preferred program to work with and I have a large number of CDC tenants.

Temporary Housing Programs – There are a number of programs that provide temporary housing, for example if someone loses their home in a fire they may need housing for a few months while things are being sorted out. These are excellent programs to work with as a landlord; these organizations will pay high rent rates in exchange for the flexibility of short-term leases of furnished rental units. These are great programs, but the demand for them is less than others which is why they’re less well known.

Options for Community Living – Options for Community Living is another not-for-profit organization, similar to CDC, funded by Medicare/Medicaid. They are typically the leaseholder as opposed to the tenants themselves, and they will often pay full FMR and utilities. In many cases they will rent a house with multiple bedrooms and place tenants in each room. This is another excellent program and one I recommend working with.

Homeless Shelters – Finally, let’s talk about homeless shelters. Homeless shelters have the potential to be a very profitable investment, but you need to make sure you can secure the proper permits which isn’t easy. Consider also that compared with other types of real estate investments there is higher risk associated with homeless shelters because you cannot offer sell my house fast Long Island solutions.

. There are two ways to proceed:

You can rent the property to an organization which runs the homeless shelter out of that property, or
You can own the property and also operate the homeless shelter yourself. This is not an easy task, but it can be very lucrative, with the government paying rental rates per bed in your shelter. Depending on the size of the rooms in your property it is possible to have a high number of beds, making a single building return a greater profit than it might otherwise.

These are just a few of the types of programs, Section 8 and otherwise, which are available for you to work with as a landlord on Long Island. I highly encourage you to investigate all the options available to you by speaking to both the people who run these programs and property owners who work with them, you may find something that’s a perfect fit for your business and your property. Call us today to sell my house fast Long Island!