For Sale
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For Sale (by Lana [IN]) Apr 6, 2021 3:46 PM
       For Sale (by Deanna [TX]) Apr 6, 2021 4:11 PM
       For Sale (by Lana [IN]) Apr 6, 2021 6:00 PM
       For Sale (by plenty [MO]) Apr 6, 2021 7:46 PM
       For Sale (by RB [MI]) Apr 7, 2021 4:35 AM
       For Sale (by BRAD 20,000 [IN]) Apr 8, 2021 12:23 AM
       For Sale (by JB [OR]) Apr 8, 2021 12:48 AM
       For Sale (by Hoosier [IN]) Apr 8, 2021 4:10 PM

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For Sale (by Lana [IN]) Posted on: Apr 6, 2021 3:46 PM

Yup. I am doing it. My triplex is going on the market. I evicted a tenant in the brief moratorium window in January and have not even tried to fill the vacancy. I went back over my records and although I have a great 4 year tenant in the upper unit, the tenant before her let squatters in. The lower units have both had 4 to 5 losers in a row. The losers had job loss, unplanned pregnancy, and alcohol/drug recidivisms. The last two? Both tried to ride free on COVID.

No evictions but the LAST, but the units have bad juju. So I either cleanse the evil from both units or sell the house.

Since my Lease is being shredded as fast as the US Constitution, it's time to bail.

Therefore, I am researching and gathering paperwork. Tax printouts, original sales agreement. Researching realtors, researching modes of assessing valuation, and looking at the multifamily homes being marketed in my area of Indiana.

Last week there were two duplexes and a SFH on the market. Rather sparse. Last night there were over 30 multifamily dwellings, and the first listings are sold. There are a lot of duplexes, but close to half are 8 to 24 units. What a difference a week makes!

For Sale (by Deanna [TX]) Posted on: Apr 6, 2021 4:11 PM

Wow. That's amazing, that so many people are shedding right now. :( It's understandable--- real estate is awesome for its predictability, and that predictability has been forcibly removed to varying extents by the Powers That Be--- but wow. :(

I'm so sorry.

Good luck.

For Sale (by Lana [IN]) Posted on: Apr 6, 2021 6:00 PM

Not so sorry. It seems like a good time to sell, and I am certain capital gains taxes will get onerous in a year or so. I am retired for the past three years, so knowing when to sell was a problem. I live on a 70 acre farm that needs a lot of stuff done and has money making potential. I like to make lemonade when life hands me a lemon.

For Sale (by plenty [MO]) Posted on: Apr 6, 2021 7:46 PM

Well then ok. Sell. Good plan.

For Sale (by RB [MI]) Posted on: Apr 7, 2021 4:35 AM

Welcome to the Sellers Club, Lana.

There's a bunch of chronic complainers that will

never sell under ANY conditions.

And I'm not sorry !

For Sale (by BRAD 20,000 [IN]) Posted on: Apr 8, 2021 12:23 AM


Consider a 1031 Exchange (transfer the gain to another property. Could be farm land, a condo in Florida on VRBO and paying a management company. )

$1000 fee to do this. Iím in one now, selling 2 small rentals and rolling the money into one nice home.

The 1031 will save me $33,000 in taxes.

Itís like buying the new prop for a $33,000 discount.


For Sale (by JB [OR]) Posted on: Apr 8, 2021 12:48 AM

Lana as you described this property and your clientele, I think you're making the right decision.

And your timing is great!

For Sale (by Hoosier [IN]) Posted on: Apr 8, 2021 4:10 PM

If I had the experiences you describe, I'd sell too!

A couple stories to add...although these are in south central Indiana...not sure where you are....

1) I did an analysis of recent sales on one of my units that I previously thought would be worth about $105k. Found out that about a dozen houses have sold in that neighborhood (very homogeneous area) in the past 15 months and they were all between $132,000 and $155,000! And I KNOW mine would be at least in that range, it's in great shape.

2) Just spoke today to a fellow LL who put his on the market last week. It's a 1998 3 BR 2 BA 1,600 sqft nice home in a good neighborhood. They got 3 offers within 72 hours, all above asking price! Their biggest concern now is whether it will appraise high enough.


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