Thursday, October 14, 2010

Off the Market

We bought this house at 224-226 South Hennessey a few years ago for $207,000. We lived in the downstairs unit for a couple of years while our house, 1 block away, was being rebuilt. When we finally moved back home we rented out both units.
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Being a landlord is at times a hassle. One of our tenants became very late in payments and eventually left owing us quite a bit of money. Over the summer we tried to sell it. We first listed it at $225,000, and lately reduced it to $210,000. We came very close to selling it once but the buyer's financing fell through. It's been on the market for 3 months, and I think we're going to have to get back into the landlord business. Thus I listed the apartments on Craigslist today. The rent is $1000 per unit, and I've already gotten several people who want to check it out. I sure wish we could have sold it though, and at times I'm afraid we owe more on this house than it is currently worth.

2 Comments:

Blogger J said...

Do you have a craigslist link?

4:19 PM  
Blogger Michael Homan said...

http://neworleans.craigslist.org/apa/2006124482.html

4:27 PM  

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