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Updated about 9 years ago on . Most recent reply
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Selling a duplex, seeking advice
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