This property was purchased in December 2021 for $100,000 and leased in Feb 2022 and the property netted approx $9,000 in rent and the owner decided to sell the property because of personal reasons.
We have a total of approx $22,000 in rehab during the time it was leased and sold.
The Sale price after only 1 year was $146,000.
We like to have 3 years but this client could not wait. So we still made great money on this property. With the sale and lease profits this client made approx $24,000.
That is still a 20% return on my clients investment.
If this client would have waited a couple more years based on the profit from rent on 1 year they would have had another approx $20,000 in lease profit.
The equity would be 12% higher based on the current trends which would have added another $17,000 to the sale price. The approx profit would have been $59,000.
The three year plans for these types of homes really piles up your profit in both equity and income. Need a Managed Real Estate Plan?
Call me (216-703-5740 Brett) or WhatsApp me
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Thank you