Just want to share with everyone another simple and boring deal that generate over 100% return over two years. How many time have you heard people said something like real estate is complicated and risky? This is to prove that you can keep real estate as simple as it is and it still generate a crazy return.
Long story short, this is one of the rental that i bought 2 years ago for 80k from a whole wholesaler. put 10k of rehab into it. I then refinance it out at 25% down payment – 20k with the mortgage at ~$540 a month. The house quickly leased for $1250 and it’s needless to do the ROI. with $1250 rent and $540 P and I. the return is like a rocket shooting through the roof
The tenant moved out after two years and I decided to put it up for sale at 130k. the house quickly got a contract in less than 30 days of listing and then sold 2 months after that to a happy home owner. With the sale price of 130 minus selling fee and mortgage payoff. i was left with a 47k check.
I put 20k into the house 2 years ago. now i am getting the check for 47k. Not to mention all the rent income received for the last 2 years and the tax benefit.
what vehicle on earth can beat real estate investment and generate a 100%+ return in two years? If you found one, please let me know
Also, do you think that i should keep the house forever, or selling it after 2 years is a good idea? I would love to hear your comment below
Here is some pics of the house
and my fancy check after 2 years of hard work. I might cash out too early, you think so?