With inventory low and rents in high demand, it’s hard to get a great deal in the North Shore.. But we got you covered! Huge 3 Family close to all amenities and hot locations, Less than 5 minutes away from Red Rock Park, the beach and the Gannon Municipal Gold course.
This is not a huge rehab! Property needs a cleanup, paint and a few other cosmetics and you can start renting in a hot area where inventory is still crazy low and rents are in high demand! The owner started peeling off the wallpaper on the walls. 2 out of the 3 units are vacant where you can start the clean up while still getting income from the current rented unit!
All separate utilities. Tenants pay for their own heat and electricity. The owner pays for water.
The current tenant is paying way below rent at $900 and is TAW (tenant at will hes been there for 10yrs+). The rest of the units are vacant.
Three ways to profit and win big! Ready? Alright, let’s run through it..
You have three options for massive profits or you can do all three!
1. Cashflow Option. Rehab and rent 5,250 a month! that’s a gross revenue of 63,000 a year!
2. Fix and Flip! With over 222k in instant equity, you can clean up and spruce up this property and flip quick!
3. BRRRR! The best of all worlds! (Buy, Rehab, Rent, Refinance, Repeat!) You can keep the property, Rehab it, Rent it out, and refinance to cash out some equity and use the rest to buy more units! Or buy a Ferrari or a Lambo – I’m more a Lambo guy myself 🙂