 TALE OF A SKANKY DUPLEX (by NED [AL]) Aug 3, 2025 9:34 PM
 TALE OF A SKANKY DUPLEX (by MikeA [TX]) Aug 3, 2025 11:30 PM
TALE OF A SKANKY DUPLEX (by Ray-N-Pa [PA]) Aug 4, 2025 6:59 AM
TALE OF A SKANKY DUPLEX (by ned [AL]) Aug 4, 2025 7:04 AM
TALE OF A SKANKY DUPLEX (by RB [TN]) Aug 4, 2025 8:14 AM
TALE OF A SKANKY DUPLEX (by zero [IN]) Aug 4, 2025 8:39 AM
TALE OF A SKANKY DUPLEX (by plenty [MO]) Aug 4, 2025 9:15 AM
TALE OF A SKANKY DUPLEX (by NED [AL]) Posted on: Aug 3, 2025 9:34 PM
Message:
Bought duplex in 2011 for $22,000
Sold in 2017 for $28,000
Bought it back again in 2019 for $22,000
(spent $10k on it)
Sold it today in 2025 for $75,000.
It was a lil' slot machine while I owned it. Overall...excellent cash flow.
That said...I'd often have a crazy or jailed or stoned tenant who I had to evict.
Reason for sale: I never could CONSISTENTLY get good, long term tenants.
But look at that appreciation!
--74.135.xx.xx |
TALE OF A SKANKY DUPLEX (by MikeA [TX]) Posted on: Aug 3, 2025 11:30 PM
Message:
I remember those days. Those low-end properties definitely have a high return. The problem is they also have a high hassle factor. I rode that wave for several years and then traded up a notch or two. The returns are lower but so is the amount of time and effort to manage them. --209.205.xxx.xx |
TALE OF A SKANKY DUPLEX (by Ray-N-Pa [PA]) Posted on: Aug 4, 2025 6:59 AM
Message:
You do get those incredible returns, especially when you measure cash on cash returns. But these places take a royal beating and they wear on you.
In my business plan today, I want five-year tenants, not five-year ownership. How did you get the place the second time around? --173.188.xx.xxx |
TALE OF A SKANKY DUPLEX (by ned [AL]) Posted on: Aug 4, 2025 7:04 AM
Message:
Ray-
The guy I sold it to...actually improved it. Had a few bad tenants... was too much hassle for him. Sold it back to me for less than I'd sold it to him. --74.135.xx.xx |
TALE OF A SKANKY DUPLEX (by RB [TN]) Posted on: Aug 4, 2025 8:14 AM
Message:
And there lies the definition of a Good Buddy. --204.10.xxx.xx |
TALE OF A SKANKY DUPLEX (by zero [IN]) Posted on: Aug 4, 2025 8:39 AM
Message:
First house we bought to live in we fixed up throughout. Stayed there I think six years.
Sold it to a nice small family who sold it to a single guy who lost it to foreclosure.
We knew what we had done to the place so we bought it back as a rental.
Rented it out for a few years but had bad luck with the tenants. So we cleaned it up and sold it again, for a small profit.
Saw years later where it was on market again. Nearly looked into buying it a third time, but for whatever reason decided against it.
It got too personal for the wife when someone would not take care of the place after we had rehabbed it.
Now I did have a duplex in a meh side of a town that I wanted out of. Sold it on contract where I charged a down payment and 10% interest on a 12 year note.
Six years in the guy walks away. Signs papers saying he wants nothing from it. I sold it in under a month to an investor for more money and he followed thru with the purchase.
Not worth the drama, but made some semi-easy cash. --107.147.xx.xx |
TALE OF A SKANKY DUPLEX (by plenty [MO]) Posted on: Aug 4, 2025 9:15 AM
Message:
Oh my goodness. I have almost the exact story. Wow! Ditto, just sold it in July. Made a lot of money, helped a few folks with housing, it was hard to rent and keep folks. Just a tad bit to much yard. Well, I'm glad I sold and geez, happy to read your post. Truly an adventure in investing. Glad to have sold this one. Glad it was mind for 15 years. Dollar sign, dollar sign. Peace sign. Peace sign ! --172.59.xxx.xxx |
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