Over the weekend I finally saw the bldg and boy what a piece of sh!

Initially, the business was cash-flow positive for the first three months, but things have declined since then.I received several negative reviews due to cleaning issues, and it took me over a year—cycling through multiple cleaners and settling for an average one—before finally hiring a great cleaner.

The supply of rentals would be impacted, but the final impact will depend on the local market.

I expect to finalize them by the end of January.

Which leads me to my final point, but not numbered.If I was you, I'd sell this property and 1031 into a non-HOA property that is attractive to own and fits #3 profile-- 1.25 DSCR + healthy reserves.

Finally, access to funds.

I have 2 closings coming up this month and feel like I am finally beginning to get on my feet!

We’ve been working towards this for a few years, and it is very exciting to finally see the fruit of our labor!

Hello 👋 I’m so happy to join this forum, heard a lot about it on BP podcasts, I’m new to real estate and would love to connect with you all, share valuable information and insights and also grow together. Let’s have fun 

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