Should I sell my two unit investment house?

[Jordan R.]

Hey All,

Hope everyone is doing well! Last December I bought a two-unit house for $240k. It generates about $960/month above mortgage and escrow costs. This was my first foray into the real estate market.

I think I was a little too optimistic with this house, it’s old, I had gotten it down from initial asking of $280. But it needs a fair amount of work (not necessarily now) but likely over time.) the biggest ticket items are likely to be electrical and eventually the boilers.

I’m trying to figure out at what point should I save myself the hassle and sell? If I do, I will likely take a hit. Or should I hang in and hope nothing goes too wrong?

My second foray into real estate is going better (a townhouse that cost almost 100 less but is generating $1k per month).

Thanks for your thoughts all!

-J