Which property to sell – Lawrenceville or East point

[Shiri Manor Nisenbaum]

Hi

I would like to sell one of my properties and I cant decide which one. 

The property in east point was built in 1955. I purchased 1.5 years ago. Did inspection and repaired everything per the report. Since than every month tenant complains on new issue and I need to put more and more money. Overall cache flow is almost zero. On other end east point has lots of new development and I think keeping it for additional 2-3 years will yield large equity.

The Lawrenceville property was built in 1970. I purchased two years ago. Didn’t have much luck with tenants. The first tenants disappeared after 6 month. Second tenant we almost been in eviction process twice and he eventually paid. Now he plans to leave property when lease ends. So I will need again to make the house rent ready and pay for tenant placement. The issue here is beyond the bad luck with tenants. Is that I don’t think that Lawrenceville will appreciate compare to my other rentals in ITP area.

Both properties gain some appreciation since I purchased.

What do you suggest? Sell east point or Lawrenceville

Thanks

[Cara Lonsdale]

Sounds like you need to sell both and re-evaluate your deal analysis for your purchasing strategy so that you can avoid these issues going forward.