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This property was purchased for $85,000 in August 2022. We had to do $17,500 in rehab on this property. That’s a total of $102,500.
This is a one tenant property that still lived there today and we’re getting ready to raise the lease again and let’s look 👀 at the approximate numbers.
In 2022 we only leased it for two months for a profit of $2200.
2023 approximate that was $8064.
2024 so far approximately $7900.
That’s a total of $18,164
Let’s look at the approximate or today of this property
Approx worth $160,000 paid w construction $102,500
Let’s look at the approximate profit so far with this property
$160,000-$102,500= $57,500 approximate equity plus $18,164
That is a total $76,664 with equity and approximate net on the rent.
That means we’re doing about 24% on this particular property so far and I’ll only get better from here.
Better properties, exceptional results
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