In the Financial Independence community, we have a dogged devotion to our investments. “Buy constantly and never sell,” and “you only lose money when you sell” are common refrains. When, then, is it acceptable to sell a bad investment? Should we hold onto investments which are objectively terrible, too?
It’s been a while since I started my series chronicling my quest to purchase, renovate, and fully occupy my newest rental property. When last I wrote, I had just closed on the property. The past two months have been a slog through renovations, evictions, and a number of other annoying (but necessary) issues to address.
I recently stumbled on a new tool that has hugely improved my ability to bid and manage repair and renovation projects from out of state: Thumbtack.
Last time I wrote about my recent property purchase, I had just resolved the last bit of haggling over price after reading the inspection report. Now that I was committed to purchasing the property, I needed to do my part to complete the transaction.
When we left off last week, I had found a great property in a great neighborhood with a minimum of 13.64% cash ROI… but now I had to try to get it for a great price!
The adventure of acquiring a new rental investment continues! In this article, I hunt for, find, and analyze a great duplex in a prime location. Find out how I found it, and how I knew it was a good investment!
Meet the members of my real estate team, learn how I found them, and how each of them contributed to a smooth and profitable out-of-state rental purchase.
Learn from my first-hand experience hunting for the perfect real estate investment. In Part I, I define my niche, my budget, my ideal property, and go on the hunt for the perfect market.
It started with little things, and ended with a battle over who is in charge of my property. Read within to see why I’m firing my property manager.
Turnkey Versus DIY Rentals: Find out which real estate investment option is right for you! In the end, it comes down to your personal investing goals.