How our Property Management can create Massive Income

 

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We purchased this property in May of 2021 for $77,500 and the rehab was $10,200 for a total of $87,700.

The property management has had only 2 tenants in this home. Let's look at the approx numbers on the first tenant in November 2019 

This is a point of sale area and we do not purchase there anymore. Because of budget and city inspections that seem to go on and on. But we finished this home and it has really done well for this client because of our property management. 

Lease $1100 Tax $126 Insurance $60 P/M $88 net $826 x 17 months = $14,042

We leased the property again in June 2021 for $1200 Let's look at those approx numbers 

Lease $1200 Tax $126 Insurance $60 P/M $92 net $922 x 12 months = $11,064

The lease was lifted to $1250 in July 2022 let's look at those approx numbers 

Lease $1250 Tax $138 Insurance $60 P/M $100 net $952 x 14 months = $13,328

The lease was lifted to $1300 a month in September 2023 lets' look at the approx numbers 

Lease $1300 Tax $161 Insurance $60 P/M $125 net $954 x 11 months = $10,494

This property has been leased for 54 Months and we have collected for this client after taxes, insurance and property management $ 48,928 in net proceeds 

Repairs and Maintenance 2019-2024 is $6980 or Approx $1396 a year 

That would make the approx grand total $41,948 after taxes, insurance, property management , and repairs. 

The approx value today per MLS is $175,000 the total purchase and rehab approx $87,700

That makes the approx equity $87,300 + $41,948 (Approx net proceeds) = $129,248 Approx gross profit. 

Do the numbers-Better Property better results and way less headache. 

Call me (Brett) 216-703-5740 Key Realty and Property Management 

1200+ Properties and counting