🏠🤔🔑 Know the truth: What kind of tenant are you renting?

This property was purchased April 2023 for $106,000 and rehab $10,675 for a total of $116,675.

This property was leased in May 2023 in 8 days for $1350 a month. Let's look at the returns

Net lease deposits after taxes, insurance and Property management
2023 $5925
2024 $7751
Total $13,676 Net deposited in Owners account

That means the 1st tenant stayed for 16 months and paid their rent on time and took care of the property. We had to add $2200 in the property to get it back on the market. Quality tenants create easier income and less money out of our clients pockets.

The new lease on this property was from am existing tenant that has stayed in a property for over 4 years and wanted to stay with our property management. The relationship with the tenants and being consistent on keeping our properties nice really creates income for our clients.

We also got another $150 a month or $1800 a year. Let's look at the new approximate numbers.

Lease $1500 Tax $222 Insurance $60 P/M $125 Net $1093 or
$13,116 a Year

Approx net worth $165,000

Let's look at the Approx numbers now

Worth $165,000-$116,675 (cost of home and rehab) - $2200 rehab to lease = $46,125

Approx Equity $46,125 + $13,676 Net proceeds from rent = $59,801

Need Real Estate that is Profit Ready and in already established areas?

Call me (Brett) 216-703-5740 Key Realty and

Property Management