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Updated about 8 years ago, 10/17/2016
Advice to make a positive cash flow
Hello,
My first and only rental property I purchased in 2007. It is a 2b/1b 2 Unit Duplex and was purchased for 240k and now worth 130k (for obvious reasons). Due to the recession I had to lower rents to stay competitive which gave me a negative NOI and I refinanced to secure a lower interest rate which raised my monthly payments a bit.
I have a negative of around $250 a month. I can't lower my rate anymore because of the value of the property. Nor do I have money to pay the loan down.
Would it be worth it to to small kitchen rehabs and try to raise the rents? Both units are occupied.
I'm looking for a little advice on how to change things to possibly create a positive cash flow.
Thanks