This Property was leased in September of 2021 for $1150 a month and the tenant has been in this property ever since.
We raised the rent to $1200 in February 2023 and now this month we raised the rent to $1300 a month. Let's look at the net results (there were some repairs taken from this amount).
Approx numbers are
Rent $1150 Tax $169 Insurance $60 P/M $115 Net $806 Leased 15 months $12,090
February 2023
Raised $1200
Rent $1200 Tax $179 Insurance $60 P/M $120 Net $841 Leased 15 months
$12,615
Raised Rent $1300 in June 2024
This property has only had $700 (No always the case) in repairs since 2021.
That's it!
Total Net - $700= $25,305 Net proceeds! Taxes, Insurance and P/M already taken out and Paid.
Need a professional that shows the after effects of a property?
Call me (Brett) 216-703-5740 Fathom Realty or WhatsApp me 1200+ properties and counting
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