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Updated over 9 years ago on . Most recent reply

User Stats

63
Posts
17
Votes
Jessica B.
  • Portland, OR
17
Votes |
63
Posts

My numbers for cheap rust-belt Ohio rentals

Jessica B.
  • Portland, OR
Posted

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

Most Popular Reply

User Stats

771
Posts
252
Votes
Timothy Murphy III
  • Real Estate Broker
  • Cleveland, OH
252
Votes |
771
Posts
Timothy Murphy III
  • Real Estate Broker
  • Cleveland, OH
Replied

What part of Ohio is this for?

Would you be willing to provide more detailed breakdown on your various expense numbers? Specifically, do these expense numbers include any outlay for debt service?

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