This property was purchased for $120,000 in 2023, but it was originally purchased in 2021 for one of my clients for $80,000. $20,000 rehab. $100,000The home was leased for this client in April 2021- June 2023. The client made net $18,750 The owner had some financial issues not related to this property but other issues. They did not want to do any rehab that was needed after the over 2 year tenant moved out. So I wanted a win-win for both of us and I purchased this property for $120,000 which made my client approx $20,000 in equity also. That makes my client approx $38,750 in rent and equity cash in. or a 19% return on their investment. I leased the property $1450 in August 2023 here are my new approx numbers Rent $1450 Tax $225 Insurance $60 Pm $125 Net $1040 or $12,480 a month. This property has approx $55,000 equity to boot. Need Income/Investment Real Estate? That produces and we have proof!
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