22% Cap; Details of 5 Cash Flowing Michigan SF Now Only $140K

[Annette Hibbler]

Purchase five (5) Immediately Cash Flowing, Single Family Rentals for just $140,000 ($28K each)

CASH ONLY DEAL (we do offer seller financing at $32K each)

All five will give you $45,000 Yearly Gross Income - A 32% Gross Return
Roughly $28,800 Net Income ?Each unit rents for $750 monthly ?Net Yield 22%

Fair Market Values are $57K each ?3BD/1BA
Brick Exterior Homes ?Safe, highly desirable neighborhoods with excellent value.
?LLC Set-up included ?Home Warranty included

FAST CLOSING: ?Closing Costs are approximately $680 per property. No realtor commissions to worry about.

ACTUAL BREAKDOWN:
Here's the breakdown assuming the cash purchase price of $28,0000 per property:

Purchase price per SF unit = $28,000 x 5 = $140,000
Closing costs per property approximately $650 x 5 = $3,250

Gross Income:  per SF unit $9000 x 5 = $45,000

Less Outgoing Expenses: $230 monthly x 12 = $2,760 x 5 properties = $13,800
Insurance approximately $70 monthly
Property taxes: $100 monthly
Management Fee: $60 monthly (8% management fee)

Net Yearly Income ($9000 each less $2,760 in expenses) = $6,240 per property x 5 = $31,200 per year