selling the duplex

[low_delta]

Back when I was considering but not really in favor of selling the duplex, a neighbor approached me about buying the duplex. A month later, when I decided I did need to get rid of it, I called the guy. He looked at it, and today, he brought his brother over to look at it. The two of them own quite a few rental properties.

I don't think they're interested in it, at least at what price I would be interested in getting. That's disappointing because if I liked their offer, I'd be able to unload it soon. Now, I'll probably have to list it with a realtor, and lose the commission and lose several months mortage payments. Finding a short-term tenant is problematical.

If I kept it, I'd be looking at breaking even on income with it, and only earning its appreciation. And spending my summer working on it.

I was happy about the work we did on Cyn's house and the money we earned when we sold it. I guess I fucked up with this one.

Comments

[cynnerth.livejournal.com]

I'm still not sure how you "fucked up". What could you have done differently?

[low-delta.livejournal.com]

I should have sold it as-is when Brian moved out, and moved into your house.

[cynnerth.livejournal.com]

I think that would have resulted in a whole other set of problems and lost money...mainly that we couldn't have sold my house as quickly with all that stuff crammed in it. It looked airy and organized because no one lived there, except Mike. AND, your house would have sold for barely more than you owe on it...maybe $120,000 if we were lucky.

[low-delta.livejournal.com]

Sure, but selling for 140, and spending 20 on it, doesn't do us much good, does it?