General Real Estate Investing
Market News & Data
General Info
Real Estate Strategies

Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal



Real Estate Classifieds
Reviews & Feedback
Updated about 2 years ago on . Most recent reply
When to sell an investment home
Hello BPers,
I'd like feedback on when an investor should decide to sell their investment.
I bought an SFH in Parma, OH, in June of 2017. I bought it for $86,500, including closing costs. I immediately found a renter for $1097, and she stayed until this past September. After about a year, I paid it off. After she left, I spent about $7,000 on repairs, paint, etc. After two months, I still haven't found a tenant (I did briefly, but the tenant backed out) and found out today that the basement needs waterproofing, which can cost between $4500-$5200. The house was built in 1955, and thinking if I should sell it.
My goal was to gross $5,000 per month between my three properties. I have a duplex in Euclid renting out for $2600 monthly.
Many thanks for considering my request.
Amir
Most Popular Reply

Why did you pay it off? You just paid full price for the property.
Why are you concerned about the gross? The gross doesn't matter.