.png)
Click here to view before Pictures
My client paid $90,000 for this home in August 2021. Rehab was approx $15,000 making the purchase Price $105,000.
This property had an existing tenant so we did not rehab it for a year. The original rent was $1040 a month which was low. The client decided to keep the tenant and not do the rehab until they moved out.
Let's look at the Approx Numbers
Lease $1040 Tax $229 Insurance $60 P/M $125 Net $626 x 27 months $16,902
In Feb 2023 the property was rehabbed and rented for $1250 a month
Let's look at those Approx Numbers
Lease $1250 Tax $240 Insurance $60 P/M $125 net $825 x 14 Months $11,550
We raised the lease amount to $1350 a month in June 2024 to the existing tenant.
Let's look at those Approx Numbers
Lease $1350 Tax $240 Insurance $60 P/M $125 net $925 x 2 Months $1,850
Total Approx Net Rent Received $30,302 in rent
Approx Value of the Property $180,000
BETTER Properties EXCEPTIONAL RESULTS
Call me (Brett) 216-703-5740 Key Realty and Property Management or WhatsApp me
.png)
.png)
0 Comments