This property was purchased January 2020 for $55,000 and we did approx $10,000 rehab for a total of $65,000
The first tenant leased the property in March 2020 let’e look at the approx numbers on this property and stayed 14 months
Lease $1100 tax $68 Insurance $60 PM $110 net $847 x 14 months $11,858
Tenant #2 June of 2022 for $1250 a month this tenant stayed 4 months and moved out no eviction family issue.Let’slook at the approximate numbers
Lease $1250 tax $123 Insurance $60 PM $125 net $942 x 4 months $3,768
The 3rd and final tenant moved in Feb 2023 and stayed 15 months at $1300 a month Let’s look at the approx numbers on this tenant we had approx $3000 in repairs
Lease $1300 tax $123 Insurance $60 PM $125 net $992 x 15 months $14,880
Total approximate net rent collected $30,506
The property was sold for $140,000 in 7 days with approximately $17,000 rehab
Total invested with rehab Apprx $30,000 for a total of $85,000 invested
Let’s look at the approx numbers after closing cost this investor netted $46,000 on the sale and approx $30,506 in rent
Approx net profit $76,506 not bad
Need Real Estate? Call me (Brett) 216-703-5740 Key Realty and Property Management
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Thank you