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Updated about 9 years ago on . Most recent reply

User Stats

8
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0
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Kenny Boyd
  • Real Estate Investor
  • New Orleans, LA
0
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8
Posts

Selling a duplex, seeking advice

Kenny Boyd
  • Real Estate Investor
  • New Orleans, LA
Posted

I have a duplex currently under contract to sell for $84k,  in a mid sized metro inner-city.  Asking price was $90 and this is second time under contract since Jan 5.  Bought for $40k 3 years ago, put $6k into it, have rented it out for $2k/ month since.  The only reason I'm selling is due it being a class D property/neighborhood, and I'm looking to improve my portfolio class, and id rather not fix anymore bullet holes.

Buyer did inspections and came back with a laundry list of repairs, trying to justify a low ball reduction to $70k, minus 5% comm.   I had in mind a take home number of $75k or else keep it and continue milking the money tree.  It is half occupied and I could fill it up in a week without any repairs.

Feedback appreciated

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