Creating top rents like this home is crucial to any investors success. The other crucial part about income real estate is the speed of rehabbing and leasing a property. If a property stays on the market too long it costs money. Our average for homes is 18 days......
This property was leased for $1400 a month in literally 5 days. The rehab only took 3 weeks and it was under $6000.
The last tenants stayed 3 years and we lifted the rent $250 from the original lease 36 month ago. That was a $3000 increase on their rent.
The key is getting more rent and keeping maintenance down on the property during the time the property is making income.
Approx new numbers:
Lease $1400 tax $214 Insurance $60 Pm $125 Net $1001 or $12,012 Yearly
Need to have quality lease and quality income and equity...This home has $100,000 equity
Need income and Equity? Call me (Brett) 216-703-5740 Fathom Realty or WhatsApp me
I partner up with Avalon Group Realty to do all the property management Call Lori 440-695-3379
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Thank you