The Mangums are selling two rental properties in Abilene, Texas.
These were some of our earliest investments, and have been cash-flowing and appreciating consistently the whole time. Even though both of us still have family in Abilene, Carol and I are shifting our efforts southward to the San Marcos and San Antonio markets.
We had originally purchased San Jose to help a single mother save up to eventually buy the place. A portion of her rent was applied to an eventual down payment. For better or worse, she found another arrangement quickly after that, so we held it as a normal rental.
The Peake house was one we got from a local investor. He wasn’t making progress on the renovation and sold it to us at a discount. One of the biggest changes we made to that one was to tear up the garage conversion to make it a garage again. (I’ve always been somewhat gifted for demolition.)
And Coming Soon…
We’re also renovating for sale soon the house I grew up in, having recently moved Mom into a duplex on the south side. It’s off the market right now, but a little touch-up paint and shelving and it will be listed soon.
We had thought about buying it and renting it out, too, but we were starting to get tired of the drive to West Texas. San Marcos, New Braunfels, and San Antonio are fast-growing markets now and are much closer to us, so that’s where we’re shifting our focus.Hermann says please like and share!