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Updated over 9 years ago,
My numbers for cheap rust-belt Ohio rentals
Here are my numbers (rounded) for the first three quarters. It's for 11 units in rundown-rust-belt Ohio. I know I could be making more money, if I did not continue to invest in the houses. My plan is to continue to invest majority of my profits back into the portfolio in some way.
I thought this data would be useful to others who are thinking about buying cheap houses that seem to always need work, in distressed areas. When the 50% rule or the 2% rule fail, to capture the situation, there's data!
Q1:
94% Occupancy
$15,100 Gross
$6,200 Expenses
$1,700 Taxes
$4,100 Labor
$3,100 Profit
Q2:
81% Occupancy
$11,400 Gross
$2,300 Expenses
$1700 Taxes
$4,100 Labor
$3,334 Profit
Q3: *Added new property
79% Occupancy
$12,000 Gross
$2,900 Expenses
$1,980 Taxes
$4,400 Labor
$2,700 Profit