To sell or not to sell

[Gia Barber]

I have two duplexes. One I currently live in and the other one is strictly an investment property. We recently had 8 pipes burst in the investment house and have a lot of damage…

I’m working with the insurance company to fix the damage and get most of our money back that we had to spend getting everything dried and fixed up. Our tenant has been fantastic through this whole ordeal which has been helpful. I feel like I’m drowning and every time I turn around, something is breaking or needs attention and we have been getting hammered with snow this winter which means more cleanup. I’m tempted to sell my investment property but I feel like I’m quitting too soon if I do that. Any advice?

[Caleb Brown]

Don't make an emotional decision. Repairs and surprises happen, part of owning properties. Let things settle before you decide. I would focus on the numbers. Is the rent coming in covering expenses (cap ex, repairs, mortgage, etc)? Is the area appreciating, have room to grow? If not and you are having to pour cash into it then that can be a red flag. Real estate is a long game. As time goes rent increases, debt is paid down and you are seeing returns grow.