Monday, February 1, 2010

Investment Property Nightmare's



To the right are a before and after picture of the kitchen.

So some of you know that we bought and rehabbed a property in Springville Utah a few years back. We tried to sell it unsuccessfully so instead rented it out. The renters were in there for over two years before things got hairy. In November their rent was late and then in December they paid just slightly more than half and then in January it was only half and then they decided they just needed to move. I started freaking out. We had already been supplementing the rent to pay the mortgage when they were only paying half now we were looking at two house payments without the capitol to pay for it very long. I immediately put the house on and marketing it as both for sale and for rent. My sister-in-law who lives there and had found the property in the first place just signed papers for a new renter and our prayers have been answered. The property won't even be vacant a day. I'm so thankful for answered prayers and for life's lessons. I don't think I would have bought the place knowing what I know now but I am grateful for the opportunity to mess up and learn from it.