All Forum Posts by: Peter M

Ryan,

Thanks for the reply. The properties are in
Kansas City, KS
Nashville, TN
Lafayette, IN
Indianapolis, IN
San Antonio, TX
Toledo,TX

How does the property tax reduction work.

I will ask why the tenants are moving out. This may be difficult because I use a property manager. I like the referral idea as well.

In your experience is my problem a common one? Could this be a cyclical problem?

Thanks Again for your time and advice.

Peter

I am in desperate need of some advice. I have six properties with 14 units. I have owned them for two years. I own them mainly in the midwest. They are fine when they are rented out. They basically break even. I didn't account accurately for some of the expenses when I purchased them. I did have a reserve account when I purchased. It has since run out. I am getting hammered by turnover of tenants and the costs associated with that, painting, flooring etc... What should I do? Do I try to sell some of the properties to stop the bleeding? These aren't areas that have hot selleres market and would likely take some time to sell. I probably would have a loss as well since the real estate market has softened. With the number of units that I have my exposure to routine expenses is starting to really hurt financially. Any advice is welcome. I am looking to right the ship!