Creating Income while growing your Wealth 1603 Winchester Update

This property was purchased in July 2020 and leased in Sept 2020. Let’s look at the rental numbers on this property.

There was almost no maintenance over the last 3 years on this property.

Approx Numbers prior tenant Rent $1300 Tax $225 Insurance $60 PM $125 net $890

Leased for 38 months $32,040 in lease after taxes,insurance and property management

Let’s look at the projected new numbers after $8,050 updating. That’s only $2.000 a year. Great properties get great tenants that take care of their property.

Approx Rent $1450 Tax $225 Insurance $60 PM $125 net $1040

That is a $1800 a year increase on the lease and the Equity is approx $100,000.

They say time is money and that is very true with real estate.

Call me (Brett) 216–703–5740 Fathom Realty or WhatsApp me

I partner up with Avalon Group Realty to do all the property management Call Lori 440–695–3379