Take a Tour of Our Rental Property that Cash Flows $460 a Month.

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We recently had tenants move out of one of our rental properties.  In the midst of taking account of what needed fixed and/or updated before we rented it out again, we took a tour of it so that you could see a realistic rental property.

Property Numbers

Purchase Price: $74,500

Down Payment: 20%

Condo Fee: $125 (per month)

Rehab: $5,000 (up front cost)

Previous Rent: $950

Current Rent: $1,000

Cash Flow: $460 (after all expenses)

ROI: 26%

 

When the previous tenants moved out we had the property rented out within 10 days.  It was a quick turn around and we only had to complete some minor fixes to the property: touch up paint, replace a light fixture, and get it professionally cleaned. Take a walk through our property with baby Molly and me!

 

 

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3 Comments

  • ML

    Reply Reply October 7, 2014

    Hi Emily: Great video (and I cannot believe you did with a baby around your neck…literally!). btw, the sound cuts out at 3:50.
    Just a couple of questions: What’s the square footage of the property? Does it come with a garage?

    I guess I am trying to figure out what the $1000 rent gets in your area. Of course my area might vary completely… but just as a comp.

    Thanks!

    EmEl

    • Emily

      Reply Reply October 8, 2014

      Thanks for your kind words! The square footage for that property is 1,162 and it does not have a garage. What area are you looking to invest in?

  • ML

    Reply Reply October 9, 2014

    Hi Emily – thanks for the quick reply. I am thinking in Kansas City area. Still researching the rental comps though. Need to hit a sweet spot in my cash flow.

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