A couple of things happened in the last few months including a lump sum pay out for a retirement from a company for whom I previously worked and I inherited a modest sum unexpectedly. 

I really needed some money from this hard money loan for some unexpected expenses that I had, so I had to go back and forth with them several times, but I did eventually get a payment.

Hi Randall-Congratulations on buying a rental property well back in 2020.I am sorry to hear the property is now cashflow negative $200 a month.Your question is should you sell or continue to keep it with the negative cashflow.Depends on your personal goals and if being negative $200 a month plus any unexpected repairs or vacancies is affordable to you, but if you can solve the negative cashflow by turning the property into a furnished mid-term rental, for example, your future self may thank you.To Your Success!

@Jacques CaspiTo succeed in real estate investing, I’ve found it’s crucial to budget for unexpected expenses, focus on thorough tenant screening, and build strong relationships with contractors.

Lastly, having a reserve fund is key to offsetting unexpected costs, especially with reduced cash flow from the loan repayments.Hope this helps, and congrats on tackling creative financing!

Obviously social media is another outlet, but what posts have you seen gain traction?

It was a win-win, and it all stemmed from a relationship built on trust rather than mere profit.The Benefits of a Strong Network: Off-Market Opportunities and Creative FinancingAs I grew in the industry, the relationships I built began to pay off in unexpected ways.

For example, properties became available at the onset of COVID, during a snowstorm, a hurricane, a major holiday, or after some other unexpected event.

Before taking out profits, make sure you have enough set aside for unexpected expenses like repairs, vacancies, or larger maintenance issues.

My bookkeeping firm provides me with a steady active income, which allows me to keep doing deals, cover unexpected expenses, and navigate the occasional black swan event.