Getting a property started is one thing especially if you're adding a bathroom or anything that might need permits is finishing the project.
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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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Find out in this informational video and Contact Brett 216-703-5740 Key Realty and Property Management
Imagine a tenant moving out of your property after 3 1/2 years and paying their rent? This property was left in great condition and we have to do little work to it!
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Getting a property purchased and rehabbed can be a big task especially if you do not live in that property's area.
Watch this video and go to https://wealthcoachrealtor.com/ Contact Brett 216-703-5740 Key Realty and Property Management 1200+ Properties and counting
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