This next house was a fun one too – but in a different way. We were in the midst of that nightmare rehab and we decided to go for a third property. This one was located in what turned out to be a slightly less safe neighborhood than I was comfortable with. Nevertheless, we took on the challenge and kept it for about a year and a half.

It was a nice looking house (after we got done). When we purchased it, the walls were purple and orange, and they were nasty – think hairs and other fun things.

What we fixed up:

  • Kitchen – full remodel
  • Bedroom floors
  • Painted entire house
  • Master bathroom full remodel
  • Guest bathroom partial remodel (just the vanity)
  • Fence repairs

We ended up pulling in $348.96 cash flow per month on this house. Which would be awesome except that we couldn’t keep good tenants in it! The first tenants left in a hurry after a lot of personal setbacks – and personally, I think they might have been nervous in that neighborhood. They left us with some nice clean up, but nothing we weren’t prepared for.

After they abandoned the property, we had minimal expenses to turn it around and rented it out fairly quickly. The next tenant was responsible, clean and we loved renting to them. However, there was some violence that was escalating in that neighborhood, with four murders within the span of a year that we know of. There were a few viral videos that went around about home invaders hiding behind trees and then shooting up the homeowner’s vehicle as they made their escape… it was just not a place where we felt safe. When the violence came a little too close to home, we had another tenant break the lease.

We are good people and really didn’t want to be the type of investor that profits off of others’ misfortunes, so we decided to sell this one earlier this year. While I’m sure we could have kept on keeping the security deposits and turning it around quickly, it was not a house that we felt safe going ourselves and did not want to endanger our lives for the sake of making money.

So, we sold it and are preparing for the next round of investments!

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