Why was this? Bad property management. The previous property management company was not getting rented at $950 a month.
We got the property and the investor had no more money to update the home because of the high cost of rehabbing from the previous property manager.
We agreed to take it on and assist this client on a property we did not purchase for them. Let's look at the results.
We leased this property in 22 days for $1000 a month
Approx rent $1000 Tax $161 Insurance $60 PM $80 Net $699
This property was leased in Sept 2019 to two sisters that loved the place. They were on a fixed income and lived in the home for 4 Years and 5 months. They never missed a payment and were very good tenants.
The clients approx net $37,047. There was very light maintenance over the years so the Client made an awesome income and we helped another investor get their dreams.
We are currently getting this property ready to lease again.
Need Income Real Estate Call me (Brett) 216-703-5740 Fathom Realty or WhatsApp me
Need awesome Property Management Call Lori 480-694-3739 Avalon Realty Group
Call Lori to get your real estate humming 480-694-3735
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Thank you