.png)
This property was purchased in July of 2019 for $65,000 and we added $10,000 in rehab for a total $75,000.
We leased the property in Oct 2019 for $1100 a month. This property only had 1 tenant for the life of the property. When the lease expired the tenants did not want to move out; they loved this home.
Let's look at the Approx Net rents deposited in this owner's account
2019 Net Deposits $ 652
2020 Net Deposits $ 8,082
2021 Net Deposits $ 6,466
2022 Net Deposits $ 3,248 (had to remove pool)
2023 Net Deposits $ 11,056
2024 Net Deposits $ 732
Total Deposited $30,236
Rental increases 2022 we adjusted their lease payment to $1400 a month.
We added another $18,635 + $65,000 (purchase and Rehab) = $83,635 total invested in home
Thip property was sold for $145,000 the seller netted After Closing Cost $133,642.69
Let's look at the approx profit for this property
$133,642.69 (Net Proceeds) + $30,236 (net rental deposited in owners account)- $93,635 (amount of owners money in this property) = $70,243.69 Approx Net
That's $17,560.87 a year or a 19% return on this owner's investment
Need these types of properties in your portfolio?
Contact Brett 216-703-5740 Key Realty or Property Management
.png)
.png)
.png)
.png)
0 Comments