New: Central, MA Area

[Mike Hoefling]

Hello All!

My name is Mike Hoefling and I am newer to the Central, MA area. I recently moved from the midwest (Kansas City, MO) to central, ma for a new job and became an accidental landlord you could say. In Kansas City, MO I own a single family home that I rent out and it needs some TLC so its good that I have my neighbor (property manager) to take care of all of it. My next adventure is buying a 4 unit multifamily that I will be closing on in the next few weeks.

I hope to continure investing but I am having trouble trying to figure out what to do with my single family investment in Kansas City, MO. Do I keep it and invest more into the property trying to make it generate psoitive cash flow (it has negative cash flow now) or do I fix it up and try to sell it. Anyways I do not expect to anwser those questions now, just a few things I have been thinking about that is why I am here, to learn.

Mike

[Mike Hoefling]

There is a lot to consider the property manager does all the repairs himself which keeps the expenses down but is not a potential buyer. The current renter is a potential buyer but most likely would not buy with the repairs needed because the renter does not make enough to buy. I sometimes wonder if there is a creative way to finance the property for the current renter..such as a lease purchase.

Mike