Thursday, November 5

The House Finally Sold!

On landing in Las Vegas I checked my email, and it's official:  I sold one of the rental properties in Birmingham.

Originally purchased in 2006, I sold it for the same price I paid 9 years ago.  I lived in the home for about two years when I worked at the software company, but began renting it in 2008.  I tried to sell it in 2012, but the buyer talked me into doing a lease-purchase option instead.  Three years later, the buyer decided to downsize and moved out.  I listed it in March, worked with an agent friend for a few months, then switched agents.  It's been under contract for a few months, as the buyer's financing has taken much longer than it should have to be finalized.

This is a bittersweet end, as I created some amazing memories here.  But I also feel like a burden has been lifted.  Being an absentee landlord is harder than I estimated.  It's safe to say this won't be the last property in Birmingham that I sell.

3 comments:

  1. Will you be adding rentals in Florida as you exit Birmingham ?

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    Replies
    1. Not right now, but maybe in the future. The great thing about Florida is that you get appreciation along with rental income. Birmingham real estate doesn't really appreciate. But I like the idea of having more passive investments. Stocks don't complain, break things or pay late.

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  2. CONGRATULATIONS! HAPPY HOLIDAYS!

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