Create more income for the future with Real Estate

​I was speaking to a potential client yesterday that was looking at buying income real estate. They ha a spreadsheet that he punched numbers in that create a result that they though they could get.

Spreadsheets can be a great starting point but you need more information on a property way more. 

Spreadheets always shows more income on multi-plexus because they have more doors. On paper you can create a lot of rental amounts but they have to be collected also. 

Tenant quality and tenant stay is really the information you cannot get from a Spreadsheet.

Some questions that need ask is what is the average tenant stay in a place you are considering to purchase. That will play a huge factor in vancancies and cost of rehab when tenants move out. Some locatioins will create substaintial updating after each tenant. 

Our properties average 25 months per tenant. We have tenants that have stayed 6 years plus. What does that mean to our investors? They make more rent and their rehab cost are considerably lower. 

Homes are also easier to sale in the retail market. I just sold a property (click here to see the details) that had a tenant for 6 years and the investor decided they wanted to sale their property. 

We rehabbed it and they collected after all cost approx $146,000+ on their property in net profit with the sale and rents collected. They of course want to purchase another property with us. 

Look at the location and the average tenant stay on anything yyour looking at. please do not guess you will loss a lot of money. Buy solid propertties that people want to live in and you will create a very nice portfilo. 

Need to get better insights on real estate investing? I have done more than 1200+ properties and understand what works and what does not work. 

Let's Talk Contact Brett 216-703-5740 Key Realty and Property Management Mega Million Dollar Producer and Award Winning Realtor 1200+ Properties and counting Go to https://realincomeproperties.blogspot.com/ to view what our clients make with our real estate Need Property Management? Go to https://pmohio.org/ Go to https://www.clevelandincomerealestate.com/ for my Blog

 DIY Property Management https://www.ohiopmservice.com/

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