$15K Property Trenton NJ, Needs Rehab, $1K Rent After Rehab Done

[Erik Raz]

This property is located in Trenton NJ was bought as a package deal and owner wasn't able to fix it due his work in NYC. Now the owner needs intimidate cash, that's why property priced so low. This property needs lots of work, partial plumbing work, electric work, sheet rock, kitchen, bathroom and carpet. Total repairs needed $12k - $15k. Once property rehabbed will rent out for about $1,000 (rent in the area). All in price should be $30K. This property is great for people who want to plunge in and learn everything about rehabbing and have the least amount of risk since it's only $15K property there is not much to lose. 

Here are what financials look like:

Price: $15,000

Rehabs + Permits + CO: $15,000

All In Price: $30,000

Rent: $1,000

Annual Rental Income: $12,000 (rent) - $2,042 (taxes) - $600 (insurance) - $960 (management 8%) - $1,000 (vacancy 10%) - $500 (maintenance) - $500 (cap ex) = $6,398

Total Income: $6,398

CAP: 21.3%

In less than 5 years you can get back 100% of what you invested. Just for comparison in NYC to get back 100% of investment would take 25 - 35 years for many properties. Of course NYC has appreciation to it but appreciation is never guaranteed. 

If you have any questions feel free to call me at 347-470-6184 or email me at [email protected] .

Below are pictures and link to video of walk through of the house.

Walk through of the house video: https://drive.google.com/file/d/0B5TOXFcxtss0UTM4U...