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This property was purchased for $95,000 in Sept 2022 and the rehab on this property was approx $10,000.= for a grand total of $105,000 The first tenant leased the property in December 2022 for $1250 a Month Let's look at the Approx Numbers on this property. Lease $1250 Tax $222 Insurance $60 PM $80 Net $888 x 15 Months $13,320 Leased in June 2024 for another $200 or $1450 a month. Let's look at these Approx Numbers and I should also mention there was minor repair of $1,000 after the tenant moved out. Lease $1450 Tax $251 Insurance $60 PM $125 Net $1,014 x4 $4,056 Approx Total net $17,376-$1000 (After tenant rehab) $16,376 The new tenant loves the property also..... Approx Comp on this property $165,000 Let's look at the approx total on this property $165,000-$106,000= $59,000 equity and add the $16,376 makes the Approx Total $75,376 Keeping a property and getting the max for it takes a little time and makes Giant profits Call me (Brett) 216-703-5740 Key Realty and Property Management
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