Portales Duplex 2
Eric purchased this property in August 2020 for $59.9K with a financier and loan agreement. He sold the asset a few years later in January of 2024 for $84K which yielded an 10.8% IRR for its lifecycle. The property was sold due to poor property management and the desire to buy assets in more desirable locations that are easier to self-manage. The sale price was lower than anticipated but with conservative estimates and safety nets built in for such a possibility, it was still very profitable. Through this experience, Eric decided to shift market selection based on travel convenience and desirability. It is much easier to manage a property in a location you enjoy visiting. Additionally, this market pushed him to fully engage in remote self-management.