Purchase price: $250,000 Cash invested: $14,000 I purchased and managed a rental property in Chicago, focusing on strategic improvements and tenant satisfaction to increase both its value and profitability.

pid=2141Houston Real Estate Highlights for December and Full-Year 2024:-Following two consecutive years of declines, single-family home sales rebounded in 2024 with 85,163 single-family homes sold compared to 84,038 in 2023 an increase of 1.3 percent; -Total property sales for full-year 2024 were statistically flat at 101,864 units while the total dollar volume increased 3.1 percent to $41 billion;-December single-family home sales climbed 16.3 percent year-over-year with 7,162 units sold;-Total December property sales increased 13.6 percent to 8,478 units;-Total dollar volume for December rose 20.5 percent to $3.5 billion;-The single-family home median price edged up by 1.3 percent to $334,290 while the average price increased 5.0 percent to $425,150;-Single-family homes months of inventory expanded to a 4.0-months supply;-The townhome/condominium market experienced declining sales throughout 2024, and in December, volume declined 5.8 percent, with the average price up 2.5 percent to $268,152 and the median price statistically flat at $234,250;-Townhome/condominium inventory improved from a 3.5-months supply to 5.4 months.

But once I got the bills, I increased the rent with the tenant's approval and signed an addendum to the lease stating the rent increase would be X and the owner would take over utilities.

This was in a middle class neighborhood and I get why that is less risk however with apartments increasingly including laundry, I would imagine demand lessening in that location. 

If you spend time learning how to manage well, your income will increase, you'll save time, and you'll maintain your sanity with the courage to expand.

In some homes planting the front or placing pots could increase the curb appeal, in others it could be paint or furniture etc.

This would increase the benefit to where the fee would not be so outrageous that it would hinder the investment.

Deviations from the PLRs will significantly increase the risk to you since your transaction did not follow the PLRs exactly.Deviation from Private Letter Rulings There are a couple of areas where transactions deviate from the three (3) Private Letter Rulings discussed above.

That then registers the property at a new “base rate” and your future rent increases all be “base rate” + Inflation as guided by the town.

This decision increased our budget from $15K to $45K, but it turned out to be a wise investment.The increased budget allowed us to enhance the property's overall value significantly, and we were able to sell it for a much higher price than initially anticipated.