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Thursday 8 February 2024

Cleveland Real Estate Market News VOL 02/09/24



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How to Fix Bad Income Real Estate: w/Property Management


This property came to us from a client that knew this property owner and they needed a change. They had invested a lot of money in rehab and had no more money to add. Basically we had to work with what we had.

The property was basically sitting there not leased. Costing the client a lot of money because it had been sitting vacant for a while.

We marketed this property at the $1350 a month it should get but because of the condition we had to find a tenant that wanted the property as is.

We marketed the property in May 2023 and the new tenant moved in July 2023. Let's look at the results.

Approx Numbers

Rent $1250 Tax $181 Insurance $60 PM $125 Net $884 a month or $10,608 a year.

We created profit for this client and they do not have to lose money on their property anymore.

Avalon Group Realty to do all the property management

Call Lori 440-695-3379 or go to Propertymanagementcleveland.com


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