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Updated about 6 years ago on . Most recent reply

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8
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1
Votes
Kris Jumao-as
  • New to Real Estate
  • South Bend, IN
1
Votes |
8
Posts

Ready to give up.. Want to share my thoughts and get opinions

Kris Jumao-as
  • New to Real Estate
  • South Bend, IN
Posted

Real estate business is hard especially multifamily. I am on the crossroads of just selling everything and moving into REITS, Index funds or dividend investing now that markets are low.  Heres a little background on me:

* I have a full time job as a PT

*I own and manage myself an 8 unit multifamily in Buchanan MI and 1 duplex in South Bend IN. Used to have a property manager but has moved away. Having trouble getting a trustworthy manager. The 8 unit cashflows $1100 after debt service and duplex cashflows about $250 after debt service.

* i have 3 small kids

* recently injured my knee and on crutches and property is a 25 min drive away.

Things are getting overwhelming and im ready to sell. What are your thoughts on this? If you are in my shoes would you sell? I was hoping to sell the 8 unit for 200k and the duplex for 140k.

Most Popular Reply

User Stats

1,372
Posts
2,198
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Mark Fries
  • Contractor
  • Jacksonville, FL
2,198
Votes |
1,372
Posts
Mark Fries
  • Contractor
  • Jacksonville, FL
Replied
@Kris Jumao-as It seems like you are just getting a little stressed out for nothing. You obviously got into the realestate game for a reason and even though the road is a little bit rough right now I think you should just take a deep breath refocus yourself and everything should be OK. At least your are cashflowing right now and hopefully your knee will get better and you will get off crutches and you can get back to maintaining some control over these properties so I don't see a reason to have a fire sale right now. And I agree with you property managers suck and they are not trustworthy so I would not get back into that, I would continue to try to manage them yourself, stay positive. To be honest when things get a little bit overwhelming for me, I go buy another house..somehow it recharges me and gets me excited again. Just my two cents!!

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