Real Estate Investor · Eunice, LA · Member since 2009 · 55 posts · 1 vote
Hello everyone,
I am fairly new to this forum. I wanted to post my success a had a few years ago.
I bought a two trailer and upstairs unit package deal for $37,000.00 It needed a lot of work! I remodeled all the units and created a bottom unit in the duplex. (it was previously just storage) It now is appraised at $85,000.00 I make a cash flow of $800.00 free and clear after all operating expenses.
I have been wondering if it would be better to sale or keep the income?
Currently I do not have anything putting out more income then my current property, thus I will keep. But thanks for the tip. Sounds like a great plan.
Simple but effect. I appreciate your help.
I have a question about your added unit. Was your additional unit filed with the town? How long did it take to get their approval? What effect did this additional unit have on the property taxes? I am currently look at a triplex that would be a great candidate to become a fourplex, but I am wondering what hurdles I will have to jump through to make it happen.