Change Area Sign In Register
Home Community Services For Sale Vehicles Real Estate Jobs
    Post Classified 

Buy Rental Home With Ira Earn 10% Plus Return $49000 3bd

Posted By:
Posting ID:
Mt Clemens
 Facebook  Twitter  MySpace
Bookmark and Share
Consider using your IRA to buy a recently rebuilt home renting for $900 Your IRA should make you 10% or more safely. If you are worried about that 1 or 2% your IRA is making then please read on. Contact info: 586.690.1112 Property #1 Gratiot, Mt Clemens For 23 images of property Click on the Google Picasa link below. If new page doesn't pop up then copy and paste into your browser. This property has a fascinating background which I will get to in a minute but first the numbers. Gross rents $900 X 12 months = $10,800 Property Taxes $1,611.04 Insurance $ 433.00 City Rental Fee $ 60.00 Total Expenses $2,104.04 Gross Rents $10,800 Total Expenses $2.104.04 Net rents $8,695.96 Net rents $8,695.96 divided by sales price $49,000 = 17.74% return on investment By using a property management company you would pay 10% of your rents. Below is what your new bottom line would look like. Property Management $1,080 Property Taxes $1,611.04 Insurance $ 433 City Rental Fee $ 60 New total expenses $3,184.04 New Net Rents after management fee = $7,615.96 / sales price $49,000 = 15.54 % return on investment Above I wrote that this property had a fascinating background. The fire was in April 2005 after which the main floor of this home was gutted and mostly torn down. The chimney remained and some of the framing. Even new trusses were installed. Basically the main floor is just seven years old! (The new work was done between September of 2005 and April of 2006.) This property has All new electrical All new plumbing All new windows (both the main floor and the basements windows) All new roof All new siding All new insulation All new duct work New trusses All new sheet rock and trim All new light fixtures (except garage) All new kitchen cabinets and counter top. All new bathroom. (huge bathroom!) All new tile in kitchen and bath (in 2010 the entryway was tiled) In August 2012 all new carpet was installed In August 2012 most of the main floor was repainted and all new carpet installed. This property is a 3 bedroom, 1 bath Ranch style home with 1046 square feet, a single car enclosed attached garage, and unfinished basement where the washer and dryer are. By the way, properties in superior shape attract the best renters and higher rents and . well maintained homes require fewer repairs. All appliances are included: Washer & dryer, refrigerator & range, dish washer, and built in microwave * A traditional IRA can be changed into a self directed IRA. I can show you how. Financial Institutions never educate their clients about self-directed IRAs because they want to sell their customer their own products.

Contact Poster
* Your Email:
* Message:
* = Required information.

Related Posts

  Areas Safety Tips Tell A Friend Link Us Contact Us  

© 2016 - All Rights Reserved.