New Management on 63rd Drive
Posted by admin on Jul 30, 2012 in Bobs Blog | 0 comments
On Wednesday we closed on an investment home on 63rd Drive; our client purchased a home that we will be managing for rent. The purchase price was $220,000, and our client put $58,761.17 down including closing costs. This home rented one day later for $1,300.00, no additional costs were needed, the home was sold move in ready. Including principal, interest, tax, insurance, home owners fees, and management fees this home has a positive cash flow of $155.68 monthly. More importantly, if this home’s value increases 4% annually, the return on investment for our new client will be 14.98%. If you calculate the positive cash flow and the mortgage reduction for one year while subtracting $500.00 for repairs, your return on investment is 22.25%.
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