This is becoming very common, the norm for 2005 purchases.
I have a sfr fixer/flipper friend that is crying on 4 properties right now. One was purchased in 2005, is rented out, and is 1,800 per month negative. He put 30% down on a 650k purchase price and put 30k into the property. He has it listed for a net loss of about 20k if it sells at the bottom of his asking range. If he sells it for what he paid for it, he will loose about 70k.
I can’t believe how many “investors” are/were willing to put 30% or more down on a 650k sfr property and be more than a couple hundred dollars negative each month. It does not pencil out.
