Really stressed and uncertain

[Erika Baker]

My husband and I bought our first property in July. We researched, read books, went to meetups for about 8 months before we made our move. Bought a half occupied 4 plex in cinci. It had been a money pit from the get go. Had to fix roof issues, boiler issues, leaks, trees, you name it. On top of this I used a heloc for the down payment, the interest rate jumped up to 10%, that with the high mortgage interest of 7%, and constantly pouring money from our savings into the building has us both loosing a lot of sleep. 

It’s only been a few months but feels like years- I keep telling myself sometimes you have to spend money at first to make money and we need to stick it out but I don’t know how much longer I can keep this up! The numbers worked when I analyzed the deal if it was fully occupied but we are having trouble with that as well. Also little things like the electricity and water bills are adding up for the common areas. 

I feel like we might have made a bad investment and we should get out of it, any advice would be appreciated!