Losing Money with your Income Property? Why? (3563 W 129th)

This property is pre-leased at $1400 a month from an existing tenant that had to move out of one of our properties that we are going to sell.

They were excellent tenants and paid very well. With the marketing and tenants we deal with that are in homes that have to move that have paid on time allows us to create income much faster than our competition.

Our competition has a home we have managed very well for 5 + years. The first tenant stayed 4 years and the second tenant stayed 17 months. We saved them a ton of time and money by our tenants staying for long periods of time.

Think about when tenants move out you have to rehab costing a lot of money…Our average tenant stays 24 Months. That saves our clients $1000’s of dollars in rehab…..That went into our clients pockets instead of someone else’s! The new management has been in rehab for almost 4 months getting rehab and the property rented.

The competition’s property had been on the market for 43 days. The rehab that was done was approx 3 times what we would have charged also. WE LEASED this property in 18 days the first time and 1 day the second for a total of 19 days.

Compare two leases with the new management at 1 lease 43 days. Time is money when it comes to income real estate. The new management company has cost this client 2 months in rent so far and $125 less on the monthly rent. The $125 less a month is costing the investor $1500 a year YIKES! Looking at the total cost so far for this client (Approx $8000 more on rehab) is about $9500, That will also take another 8–10 months to recoup. So basically this client will make no income this year on this property.

That’s why we are in business so this does not happen to our clients. Let’s look at my pre-rented home approx numbers. We will be finishing this home this week (4 weeks) and 0 days renting it…….

Let’s look at my projected results Rent $1400 Tax $156 Insurance $60 PM $125 Net $1,059 Yearly $12,708 I will make a lot more money this year because of my system! Call me (Brett) 216–703–5740 Fathom Realty or WhatApp me

Please like and Subscribe