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Updated over 4 years ago,
Get rid of low cash flow properties?
I currently own 3 single family homes in Dallas Texas. My first purchase did not have the best cash flow (learning experience) and currently has an 18 month lease set to end in 2021. When I say not the best i am referring to about 50$ when you take out expenses. It’s also a brand new house that was built last year. The property is in good school district and a B+ neighborhood. Thinking about getting rid of it for two reasons. 1. With my new knowledge of investing I could use that money and find way better properties. 2. If s*#t hits the fan and my tenant leaves won’t be ideal.
If I sell it I would take a very small loss (10k on a 370k house)
What are your thoughts?