There is a lot of mis conceptions about how to be successful in buying investment real estate. People are starving for the secret sauce that the average investor can get real estate and have success. The key is having all the tools and really know what you are buying. Let me give you a few recent examples:
We purchased a home in Parma Ohio for $75,500 on 4/19/19. The home was leased for 14 months. The rental income after taxes, insurance, and property management was $950 a month. 14 x 950 = $13,300 net rental profit. There was very little maintenance done on the property during the lease.
We put the home on the market on 8/12/20 and did no updates or work on the property. The home was listed for $89,900 and sold for $93,500. We are not going to consider closing cost here. The gross profit on the home in just 14 months was $93,500-$75,500= $18,000.
That is a successful real estate story because the client got great income during the time they leased it and great profit when they sell it. That is the way that real estate stories should end.
Another investor came to use after a purchase and disaster with his contractor. We finished the home and leased it for $1100 a month. The home netted about $824 a month. The tenants lived there for 12 months and the client netted about $9800 on his rent.
We just put it up for sale at $109,900 and already have contracts coming in at full price. The client is very excited about the process and they just landed a great property this week to start creating more income for his portfolio.
That is what I am all about is writing success stories for everyday investors and getting them the best locations and rents.
I have a course that really gives you all the ways I find, rehab, sell or lease real estate. I have done 100's and 100's of investment homes over the last 35 years and I am sharing how you can know what an investment is really worth to your portfolio. The website is https://www.nextlevelpropertyinvestor.com/ check it out.
You can also call me I'm Brett 216-703-5740 ICON Agent for EXP Realty or
text "information" to 1-937-500-0745
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0 Comments
Thank you