Background: This turnkey rent-ready home was purchased right off the MLS as part of a 1031 transaction.
Renovations Done: Virtually none, just some health and safety items (co’s & smokes) and some minor repairs.
Project Financial Highlights:
- The repair budget was less than $1,000
- Our annual Cash on Cash return after all repairs is 9.5% (before tax benefits)
- Since project completion, our equity has appreciated 13%