Before and after of a $30ish K rental property
I picked up this property for about $33.5k and put about $14,000 into the house. I bought it in mid Feb and have a tenant moving in on Tuesday, April 1 for $1,095. The first tenant who came looked at it put an application and everything came back okay.
The house has new roof, new hot water tank, new flooring and new paint throughout. The biggest expense was the roof.
Total investment - $47,500
Gross return - 27.6%
Net return - 13.8%
ARV - $85,000
