If your wanting to buy some solid Income Properties then you might want to look in the Phoenix Metro area. We have purchased a couple of great income properties this year and they have been successful. I posted the numbers below that we got for these listings.
Rent____________________$ 1275 a month
Taxes___________________$ 81 a month
HOA___________________$ 72 a month
Insurance________________$ 60 a month
Property Management______$130 a month
Net proceeds_____________$ 932 a month.
These are 3 bedroom 2 bath homes with 2 car garage. These two homes were post 2000 built so they are newer. We had inspections and got home warranties on them. We also assisted in getting them a tenant for each property.
Cleveland Ohio area we have great income real estate. The prices range from $75,000-$200,000. The have great returns on both income and equity. They also attract quality tenants that tend to stay for the period of the lease. Here is an example Ohio Income property
Net Proceeds__________$ 974
Phoenix area is a great place to own income real estate. The landlord/tenant laws are very favorable to landlords. The amount of quality tenants are limitless it seems. These properties are around $165,000-$175,000 and are in very quality areas. The rents are stable and attract a lot of potential tenants.
These areas are seeing increases on there home values and have all the amenities your tenants need. I have purchased and Sold over 300+ properties in these areas and lived there for 32 years. Getting the right income real estate requires a team that will assist you in finding the best property for your portfolio. Call Brett 602-363-6551 West USA Realty or 216-703-5740 Century 21