sell or keep - properties in Indianapolis that make me problems
hey guys, I have two properties in Indianapolis. both were purchased 2 years ago for around 65K each, and both were bad choices (without being too self-critical...it was in the very beginning)
In one of them, I now need to invest 20K to replace the roof, install a fence, and another major CapEx in order to bring it back to the market and find tenants. for the second one, the bid I received was 8K. it's important to mention that these bids have been prepared by my property manager so I believe they are a bit over-price. Anyway, based on my calculation, these repairs will choke my cash flow and turn these deals into really bad deals. On the other hand, doing massive repairs now means not doing them in a few years from now. Together with appreciation, it may be feasible to gain good cash flow in the future. In other words, I'm confused. and...I already have a buyer for both at a good price.
Sell or not to sell?