My first deal, one year later.

[Joey C.]

Okay, so I purchased my first rental property, a 1br condo in Dec. 2012. I never posted this info because I had negative responses to even looking into such a purchase and wanted to see how it all panned out. It was a short sale with a asking price of $45k. Offered $38k bank countered with $45k..?? Got it for $38.5k appraised value of $55k. Rented it from April 2013 til present for $800 a month. Tenant never caused problems and was never a day late with rent.

Lease is up April 1st. She is not renewing. Would you guys sell in this situation or find a new tenant?