This property was purchased January 2021 for $80,000 we had to add Approx $13,000 in rehab. for a total of $93,000. We added another $14,000 in updates and a new roof. The total is $107,000.
What we have deposited in the owners account for income on this property
2021 $ 8,508
2022 $10,250
2023 $12,583
2024 $11,529
2025 $11,813
For a total of $54,683
We did a Value add of $35,000 update on this home and the property was SOLD and appraised at $215,000. It was a client that wanted to purchase a property finished and now it is on the market to lease at $1750 a month.
That is how we make more money for our clients. We have a slow flip method that blends the lease income with the equity.
Let's look at the final numbers approx on this home.
$215,000 (sold) - $35,000 (value add) - $107,000 (purchase and original rehab cost) + $54,683 (rental income deposited in the clients account) - $8,000 (approx closing cost) =
$118,683 approx net profit
The key to all this type of success is good property management to create great income. The income also gives the property more time to appreciate.
This is what my company does for our clients day in and day out.
Don't do Real Estate Alone
Let's Talk
Contact Brett Young (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/
Go to https://www.cashflowrealtygroup.com/ to see how we finish homes
List Your Home @ https://listcleveland.com/
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Thank you