The repairs are complete on rental property number 8! For more information on rental property number 8, the details of the purchase are here. I bought the home for $97,500 with the seller paying $2,000 in closing costs. I was hoping the home would rent for $1,200 or $1,300 when I purchased the houses and now I am thinking I may ask $1,400 a month for it. We will see if I am being a little too aggressive with the price, but there are very few homes for rent in the area.
For more information on my rental properties and investing strategy, check out my complete guide to purchasing long-term rental properties.
Also for more information on how to buy the best rentals which will make the most money, check out my book: Build a Rental Property Empire: The no-nonsense book on finding deals, financing the right way, and managing wisely. The book is 374 pages long, comes in paperback or as an eBook and is an Amazon best seller.
The before video of rental property number 8
Here is the video of the property before we did any work to the home: Rental property number 8 before the rehab. The house was not in horrible condition, but needed paint, floor coverings, light fixtures, drywall repair and we added a fifth bedroom in the basement.
The after video of rental property number 8
Here is the video of the property after the rehab: Rental property number 8 after the rehab. As you can see we painted everything, put in new fixtures, refreshed the kitchen, put in new carpet, added the bedroom and did a few more things throughout the home.
Renting rental property number 8
We are going to list this home for $1,400 a month in Craigslist, post it on Facebook and see what happens. I am hoping we can get it rented quickly; I know there are many people looking for rentals in the area. I am also listing rental property number 9 for $1,400 and it looks like our tenant for rental property number 6 is moving out and I will post that one as well. It was rented for $1,300 a month and I think I will post it for $1,400 a month as well.
Moving forward with my rental properties and fix and flips
Rental property number 10 is under contract and I am continuously looking for more properties. We closed on a fix and flip yesterday that was left over from before I took over the business from my parents. I still have one fix and flip from before I took over the business that we are listing next week. The fix and flip that I wrote an article on here is finally ready to go and we are going to list it today. Two more fix and flips are being repaired and another that was included in this post is under contract and set to close in a few weeks. I am still looking for more fix and flips as well!