Double-down or Jump-ship

[John Alosio]

Hello BP community,

Rookie Investor here with a question/situation:

I Began my investment strategy 3 years ago with the goal of cash flow, buy and hold. Mind you that I knew nothing about REI. I was just stumbling in the dark.

My first property was a house hack duplex. Live-in rehab with a ton of sweat equity. It is now stabilized, coasting on auto-pilot with minimal maintenance required.

Success! Time to level-up!

Earlier this year I moved on to my second house hack duplex with way too much confidence. This is easy, right? I’ve done it before, right?

Oh no. Only when I was in the depths of the rehab did I start second guessing myself. I begin looking for guidance. That’s when I discovered BP! Too little too late. I bought it all wrong(I think?).

Now I’m sitting atop this duplex. I sank a bunch of money into just to get It is cash flowing. But there are many more projects looming. Many issues that were overlooked during the purchase(structural?!). I’m at a fork in the road. Do I continue the rehab to bring it to a presentable market value? or do I cut my losses? Sell and try to at least break even? Move on to a new property that I am now better equipped to handle (thanks to the knowledge acquired from this lovely community).

I know that nobody can give me a magic answer sight unseen. I’m mostly looking to vent.

But if anyone is local to the Stroudsburg/Easton PA (slatebelt) area, want to get together? I’d love to get someone’s honest un-biased opinion.

Cheers

[Mark Fedorov]

You don't have to make it perfect to rent out. As long as it is safe, rent, get the income, regroup when the lease expires.