Maximizing monthly cash flow per unit
We started this journey 2 years ago - We just pulled off our best deal yet!
After going through the ups and downs of dealing with Section 8 Landlording, we finally learned how to maximize our profit per door. We focused on where we went wrong with the first couple of homes we purchased. We always chased around $500-$600 a month in profit per door.
We didn't think it was possible but we got over $1100 in net cashflow on 1 property. Mainly focusing on our location while also keeping the total cost of the homes in mind. Finally we purchased a home for $130k (Sales price) with a mortgage of $950. The home was submitted with PHA (Section8) and the rent came back at $2,075 (fully guaranteed).
With the failures we endured in the past - we were able to take out original goal of $500-$600 per door and were able to double that with just 1 door.
The journey continues and now we know where to direct all of our focus!
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#3 General Real Estate Investing Contributor
- Attorney
- Philadelphia
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#3 General Real Estate Investing Contributor
- Attorney
- Philadelphia
Never heard of a voucher tenant being responsible for maintenance and repairs, rental licensing fees, lead testing upkeep, cap ex, reserves, book keeping and tax prep......and even if you self manage, it takes up your time and should be treated as an expense because its taking away from your ability to earn income elsewhere.