First property a problem

[Marco Morkous]

So in March I buy my first property. Things go well. I didn’t pay much out of pocket. Got a good deal, it appraised well, rehabbed it etc. not it’s cash flowing well. HOWEVER. Plumbing plumbing plumbing has been a major issue in this property, it’s one thing after another and by now I’m in it for like 3k just in plumbing related expenses and the plumbing issue is still not resolved! More than anything I have a very pissed off tenant that has been dealing with this issue a while now and I have a worry that she will skip out on the lease or file for a code violation. Just feel kind of down especially given that this is my first property. This didn’t turn out in inspection and was not expected at all and not how I wanted to start my investing journey.

I’m now reselling this property for profit and The property is now under contract and is due to close sept 30th but who knows. If I don’t get this plumbing issue fixed and figured out I might lose the tenant AND THE BUYER