Undercover Landlord - Big Failure
The market gives and takes.
It's a harsh reality.
I'm on the loosing end this time and feel embarrassed, disappointed, and angry.
As you may remember, I moved out of my residence to have it staged for sale.
It didn't get any offers, so we rented it as a way to wait for the market to improve.
Well it's a year later. The tenants moved out and the market is still low.
Slightly lower than before - OUCH!!!
It's time to let go - we don't want to subsidize this investment anymore.
This is painful. My first loss.
I'm losing my 100K down payment and the investment we made in upgrades.
****
I'm sharing this to document that bad things happen to me as well. I'm a three-dimensional person. Part of my investment business is doing great and another part is sinking and stinking.
But it's just money.
I'm embracing the love of my family and finding things to laugh about.
I'm using this failure to fuel my next experiments.
It is well with my soul.
Comments (2)
Thanks for sharing Al. Newbies like myself appreciate the transparency as it helps to have realistic expectations for our business. It is discouraging to go through the growing pains of a beginner while wrongly believing that everyone else is winning 100% of the time. I'm sure you'll recover and the lessons learned will benefit you going forward!
Marcus T., over 7 years ago
Just seeing this. Thanks for sharing.
Purnell C., over 7 years ago