Here are the Stats:
3 Bedroom Home
Turnkey- Rented at $700 a month (long term tenant)
Purchase Price: $28,000
Gross Annual Rental Income: $8,400/yr
Yearly Taxes: $1300/yr!! (are you kidding me?!)
Estimated Property Insurance: $700/yr (*varies based on # of properties insured)
Annual Property Management: $840/yr
Net Annual Rental Income: $5,560
Looking good, let's do the numbers:
Gross Return on Investment: 30%
Cash on Cash Return: 20%
This is an excellent deal on its own, but WAIT....The Seller is Motivated. They need to sell now and can close quickly. So, your rental income can start in less than 30 days.
Additionally, the surrounding area is safe and perfect for investment.
And the pièce de résistance? The tenants want to stay and eventually purchase the home !
Want to discuss purchasing this and other properties? Contact us now!
Patterson is a licensed Realtor in Michigan. She currently holds
certifications as a Certified Investor Agent and Certified
Foreclosure/Short Sale Resource.
She has sold hundreds of Investment Properties to Investors from all around the world and loves helping them invest wisely for immediate cash-flow, as well as long-term gain. Letitia's mission is to help make Real Estate millionaires!
Letitia N. Patterson
Cell: 248 506-9426