This property was first leased for $1100 in 2019 and the tenant stayed an impressive 38 months and Netted Approx $28,994 in rent. This tenant did some extra work for us during their stay to keep the lease at $1100 a month. It benefited our client in cost to have the licensed contractor tenant to repair some issues in this property.
After three years we updated the property for $5,000. Think about what it would look like if you have tenants that move out all the time? Most property management companies do not have tenants that stay 38 months The new tenant is paying $1300 a month and the approx net proceeds are $11,556. That is a total of approx $40,550. WOW, that is amazing, less rehab and more income what a great concept! In 2019 we paid $70,000 for this property and updated it for $9000 making the approx total $79,000. The home today's estimated value is approx $140,000. That is a $61,000 equity position! Wow, do the numbers on this home and look at the low stress simple way this client made money! Call me (Brett) 216-703-5740 Fathom Realty or WhatsApp me 1200+ Investment Homes and counting https://propertymanagementcleveland.org/
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Thank you