Phoenix Couple Struggles to Hold On To Several Investment Properties
We’ll be periodically checking in with home sellers, owners, buyers and investors who have been affected by the cooling real-estate market.
The Investors: Donna Butera, 47 years old, a home-staging professional, and her husband, Mark Butera, 45, a contractor, in Phoenix. The Buteras got started in real-estate investing in 2001, and to date, have turned a profit on 12 properties that they have renovated and sold.
The Investment: In 2005 the Buteras bought six properties — four single-family homes in Phoenix, plus a house and condo in Scottsdale, Ariz. With the exception of the condo, which they intended to use as a short-term vacation rental, they had hoped to quickly renovate and sell the other properties.