Fellow landlord here and agreed with previous posters this doesn’t sound like it is for you - though you’re probably frustrated right now and how you write things will sway answers heavily in one direction or another.
I’d love to hear why you bought this property and what went wrong in the numbers for it not to cash flow?
Some arguments to keep:
1) your tenants sound not great. In a high end single family home you should expect tenants that basically treat the home like their own, ie for little things they dont even call you. I ran into my tenant the other day with a new toilet seat in hand that they were gonna swap out themselves because the prior one broke, I would have been happy/preferred doing that for them, but just so you get an idea. If some bigger work is due they would ansolutely know what’s going on and want to ensure it’s been done right.
2) you said your job isnt secure. Would one of you being unemployed immediately change everything? All of a sudden you’ll have plenty of time and you may even get away with real estate professional from a tax perspective which could be nice for a while absent any employment.
3) what changed? Either you slid into this or you thought it was worth the hustle at some point?
I’d love to hear why you bought this property and what went wrong in the numbers for it not to cash flow?
Some arguments to keep:
1) your tenants sound not great. In a high end single family home you should expect tenants that basically treat the home like their own, ie for little things they dont even call you. I ran into my tenant the other day with a new toilet seat in hand that they were gonna swap out themselves because the prior one broke, I would have been happy/preferred doing that for them, but just so you get an idea. If some bigger work is due they would ansolutely know what’s going on and want to ensure it’s been done right.
2) you said your job isnt secure. Would one of you being unemployed immediately change everything? All of a sudden you’ll have plenty of time and you may even get away with real estate professional from a tax perspective which could be nice for a while absent any employment.
3) what changed? Either you slid into this or you thought it was worth the hustle at some point?
Statistics: Posted by heisenberg. — Mon Aug 25, 2025 8:59 am — Replies 15 — Views 1243