Don't forget about the equity in real estate

To many times we worry only about the income in income real estate. Though it is important to make a good income, equity also needs to be part of your equation. That is almost always the biggest money maker in any real estate transaction.

That is what we do for our clients is both income and equity. Just this week we sold a home for a client that we had purchased 2 years ago. He will be seeing a nice profit on the home when it closes. The factor was the location of the home and he also made great income during the time the home was leased. We had 6 offers on the home in 4 days.

During the many years of investing I have seen many homes that we have purchased for income, sell for very good profits.

The property above was purchased for $82,500 on 7/21/18 and we sold the property 11/19/19 for $121,000. The seller did no repairs and left the tenant in the home to sell it as is. If the tenant was not in the home and we fixed it up a bit the home would have been worth around $145,000. 

The key is having all the information on a homes income and equity before you buy it. How do you do that? Zillow is a horrible place to get home values, you need to get a comparative market analysis for a licensed realtor. The MLS is audited and we are trained to understand values of properties.

Building a real estate portfolio takes more than just income it takes equity growth that will profit you later. 

Need more information on buying income real estate? Call me I'm Brett 216-703-5740 ICON Agent for EXP Realty Ohio 2 years in a row....or text "income" to 1-937-529-0745 

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