Current Goal: Eliminate Mortgage on Rental Property
January 1, 2019: $59,592
May 25, 2020: $49,531
2/14/20 paid $750 towards principal
3/20/20 paid $1000 towards principal
4/17/20 paid $1000 towards principal
5/5/20 paid $2000 towards principal
Thursday, November 5
The House Finally Sold!
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.