All Forum Posts by: Terry Z.

@Mary K. Yes, I did not crunch the numbers like I should have done when I bought that first rental. It was all enthusiasm. After I tried a couple of more times, now I get a handle on how to properly do the numbers and realize the number on that one did not make sense.

I know it was not a good deal, but still debating if I should sell it since it is postive cash flow.

So I am facing a dilemma here. I bought a property two years ago and that was my first rental property purchase. I paid $175k with 20% down for the property in a okay neighborhood. 

For the past two years, I have had positive cash flow about $100 a month on the property.

However, last year during turn over, my property manager worked really hard (20 plus showings) and finally rent it out, and several months later,  the tenant reported that they don't feel safe for their kids to be in that neighborhood. That is when my property manager suggested me to sell the property.

I agreed and listed the property a couple of weeks ago. And yesterday I got a offer of 176k on it. I think I can reach an agreement of 180k for the property.

Now, with that price, I am going to lose about $8000 since I just purchased it two years ago. It is due to the closing costs plus commission etc.

So losing $8000 now is a hard pill to swallow. But I also think if I can free the money, then I can invest in another property way better, potentially making cash flow of $300 per month and avoid uncertainty of the future of this property. 

what are your suggestions?