This property was purchased for $82,500 in July 2018 we added $11,975 and updates. For total of
The property was leased in December 2018. It took us a while with this owner to get this one done but we were done before that but we had to get paperwork signed. He was an international buyer.
Here are the Approx numbers for the rental on 12 months he owned it.
Lease $1300 taxes $270 Insurance $60 property management $104 net $866 times 12 months 🟰 $10,392.
The owner ran and his complications in his country and needed it sold so we sold it with the tenants actually still there. Real Estate People want is always apperciating.
The property was listed on September 2019 it was sold for $121,000. The property closed November 2019.
Let’s look at the Approx total numbers and profit of this property.
Net sales proceeds $109,252 plus $10,392 and Rental proceeds. The total on that is $119,644 minus $94,475 total purchase and rehab
Total approximate net profit for this property with the rent and equity proceeds $25,169.
Basically $2097 a month if he divide the time he owned at 12 months. Pretty good return. Too bad he had to sell so fast as property is worth a lot more today.
Call me Brett 216703-5740 Or WhatsApp me
Key Realty and Property Managet
Better Properties exceptional results
# # #BrettsRealtyGroup #ClevelandRealEstate
.png)
.png)
0 Comments