A lady that reached out to me has a 2 family in Somerville MA, north of Boston MA
Reason for selling: we used to break even on the property each month but the taxes have gone up considerably so it is now cash flow negative.
When would we like to close: there is no rush to close; this is only my second inquiry into selling the property.
Occupancy: the upstairs (2 bedroom) apartment is rented but the downstairs (1 bedroom) is vacant
Debt on the property: we owe about $285K on the loan.
Equity: we may have an estimated $30K of equity
This looks like something I probably should walk away from.
I’d like to get everyone’s thoughts about this.