How to Make More Money w/Residential Real Estate

 

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This property was purchased for $60,000 the approx $15,000 in rehab for a total of approx $75,000.  Let's look at the Approx rental income, This property was leased in March 2020 for $1100 in 16 days  The total net proceeds from rents was $23,339 and the rents were $1100 a month and were lifted to $1400 a month.  The property was Sold for $197,500 on 2/21/25 Let's look at the approx sale numbers. We added another Approx $16,500 in rehab to sell this property.  Approx totals on rehab and purchase $75,000+16,500= $91,500  Sell numbers $197,500- $7500 closing cost= $190,000 Net sale price $190,000 - $28,387 (taxes, $7500 in closing and commissions)= $169,112.97 Let's look at the approx net profit on this property.  Rental Income $23,287        Approx Sale income $169,112.97 - $91,500= $77,612.97 Total approx net profit$77,612.97 + $23,387 = $100,999.97 Over a 5 year period this client made approx $20,199.99 a year. 22% return  Contact Brett 216-703-5740 Key Realty and Property Management

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