Our Property Management Case Studies
Income Realty’s Property Management portfolio is worth more than $20 Million. We send some of our clients over $100,000 annually.
We have helped countless real estate investors grow their portfolio in South Florida and manage their rental properties.
Here are a few case studies we've put together:
Success Story #1
4 Bedrooms/ 2 ½ Bathrooms
Original Purchase Price: $29,900
Repairs: $45,000
Current Market Value: $285,000
Current Rental Price: $1,800 per month
Challenge:
Helping this Canadian contractor obtain the support he needed to invest in Miami real estate and successfuly manage the properties.
Background:
After calling several other Miami brokers, thisCanadian masonry contractor called us 11 years ago (in 2007), wanting to invest in commercial property.
Our Approach:
We appraised and made offers on several commerical properties, but had second thoughts when the market fell apart in September 2008. We recommended he change up his approach to focus on single family houses as a result of the market crash.
Results:
We reversed course and bought a total of 12 single family houses. During one cold winter up North, the owner renovated this home himself. We have managed these properties and helped them grow in income each year.
Success Story #2
4 Bedrooms / 2 ½ Bathrooms
Original Purchase Price: $62,000
Current Market Value: $230,000
Current Market Rent: $1,800
Challenge:
Helping this Virginia real estate investor toturn a run-down foreclosed property aroundand expand his real estate portfolio.
Background:
This investor is based in Virginia and found us online in 2010. He had recently purchased an old and badly rundown foreclosure in South Florida and needed help renovating the property, placing tenants, and managing it. He was also an active real estate investor and wanted to continue growing his real estate investments.
Our Approach:
Wecompletely renovated the foreclosed property. We installed a new roof, new windows, wiring and appliances, cleaned up the yard, as well as painted the home. Once the house was in good condition, we placed quality tenants in the rental property.
After placing tenants in the foreclosed property, we helped him purchase and complete minor renovations on two other newer properties. One of these properties was a foreclosed townhome and the other was a single-family home.
Results:
All three properties have been rented for the last 8 years. Total monthly rents are now $4,400 and the market value of these properties has more than doubled to $500,000.
Success Story #3
4 Bedrooms / 2 Bathrooms
Original Purchase Price: $90,000
Current Market Value: $320,000
Current Market Rent: $2,300
4 Bedrooms / 3 Bathrooms
Original Purchase Price: $145,000
Current Market Value: $350,000
Current Market Rent: $2,200
Challenge:
Assisting this local property owner with her problematic tenants that were causing her to lose too many hours away from other important business.
Background:
The owner of this property was a local professional that was reffered to us by a friend who had used our services to successfully purchase 10 properties. With our help, this owner bought and renovated 4 foreclosed houses in 2010.
Our Approach:
We helped our client with her problematic tenants that were causing her to lose precious time away from her core businesses, by taking over the management of the properties.
Results:
We were able to find and manage new and stable tenants that allowed the property owner to rest easier and enjoy the benefits of her investments. These investments have more than doubled their original purchase price, while making the owner a monthly return on their rent.
Success Story #4
4 Bedrooms / 3 Bathrooms
Original Purchase Price: $145,200
Current Market Value: $350,000
Current Market Rent: $2,200
Challenge:
This overseas investor was seeking a safe but higher-income return for his retirement savings, being quite nervous about investing in property abroad.
Background:
This owner came to us in December 2014 from Europe. He was referred to us by a relative that reassured him that he could put his trust inIRC. We researched and appraised single-family properties for our client, not being distracted by minor repairs that could be easily fixed to enhance the investment’s value.
Our Approach:
We helped our client purchase and complete minor renovations on the 3 single family properties, while sellecting and placing tenants in each of the properties.
After placing tenants in the foreclosed property, we helped him purchase and complete minor renovations on two other newer properties. One of these properties was a foreclosed townhome and the other was a single-family home.
Results:
These properties now pay him a net income of more than ten percent on his total investment, including the renovation costs. The current market value of his investments being worth over $600,000.
