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The Profit of Property Management: Income
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This property was purchased for $90,000 in November 2021. It was a converted to three bedroom from a two bedroom by adding a bedroom in the basement. The original rehab was $14,725 for grand total of $104,725.
The property was originally leased for the January 2022 for $1200 a month. that tenant stayed for 24 months unfortunately the husband had a heart attack and they had to move out. They just moved out and we had to add some more rehab to the property . And that amount was $2500.
So the total amount invested in this property is $107,225. The property was leased again in March 2024 for $1350 a month. Over the time.
Of the end of 2022 through 2024 the net amount deposited in this Client’s account is over $30,000.
The approximate value per the MLS is $180,000. Let’s look at the approximate profit $180,000 — $107,225 = $72,775.00 $72,775
Let’s look at the current Results $72,775 + $30,000 = $102,775.00 $102,775 That’s an approximate return of 32%.
Consider our way of real estate and call me (Brett) 216–703–5740 Key Realty and property management Better Real-Estate exceptional results
