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Updated over 4 years ago,

User Stats

7
Posts
3
Votes
Hope Louisse Montenegro
  • Chicago, IL
3
Votes |
7
Posts

Sell investment property?

Hope Louisse Montenegro
  • Chicago, IL
Posted

I bought this single family home in Indianapolis for $130k intending to hold forever as passive income investment. Since then however, I've had to evict a tenant and hire a new property manager which has cost me in repairs and loss of rent from Oct 2019- Mar 2020 of about $23k. I'm still having to do repairs ranging from $200-$1000k per incident since my new tenants have moved in in April of this year. Rent income is $1200 and mortgage is $835/month. I'm very disheartened and don't know if I should just sell this home or wait it out to get my money back at the very least. 

Thank you

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