Creating top rents like this home is crucial to any investors success. The other crucial part about income real estate is the speed of rehabbing and leasing a property. If a property stays on the market too long it costs money. Our average for homes is 18 days……
This property was leased for $1400 a month in literally 5 days. The rehab only took 3 weeks and it was under $6000.
The last tenants stayed 3 years and we lifted the rent $250 from the original lease 36 month ago. That was a $3000 increase on their rent.
The key is getting more rent and keeping maintenance down on the property during the time the property is making income.