So here’s the math: entire condo, 12 units – $4,150,00 ~ $18,500/month ~ $1500 per renter
If I raised the rent to $2,000 for each renter (which is a more common rate for apartments in the area) I would make an approximate $5,000 profit every month.
Is it really that simple or are there more factors that pay into it? I’m just looking into real estate and I’ve been doing calculations just to see what profits would look like. I don’t know all the ins and outs so if anyone has some knowledge they want to share it would be greatly appreciated!