All Forum Posts by: Rusty Williams

Background: My brother and I have 4 rental units currently.  Unit 1 and Unit 2 are on a 15 year note and barely cash flow.  Unit 2 is in an area that doesn't really fit with what we invest in and we are currently selling it (closing should be next week).  The property will not appreciate much over time and my brother (the handy man of us) has moved an hour away, so we will start to look for properties where he is soon.  

The selling of unit #2 has cause me to reconsider selling unit number 1.  

How would you re-evaluate a property?  
Would you run the numbers asking yourself would you buy it again right now?  
How would you do it?

Thanks in advance for any advice or insight!

Rusty

I have a property I purchased years ago with the same situation. Boyfriend beat the girlfriend to death with a baseball bat. The house was in a small community and everyone knew it, except me. Would have a lot of people view the house, act really excited, then never come back. The neighbor stopped by one day and let me in on the secret. I ended up renting it out for 2 years to an older lady who could care less. It just paid for itself during that time because of the stigma. Since then, have been able to up the rent and no one really cares anymore. Guy in there now has been great for the last 2.5 years.

My experience is that is has some stigma for a few years, then it fades. Good luck.