Rental Property # 11: How Did the Tenants Leave it? Worth $285,000 Bought for $109,000

I bought rental property number 11 in 2014 for $109,000 from the MLS as an estate sale. We fixed up the property and it has been rented ever since with one short break when we freshened it up with new paint. It is vacant again and I thought I would take a look at it to see how it looks after the last tenants left.

The property is in relatively good shape and you can see how we repair our rentals compared to our flips. We have to do much less work on our rentals as opposed to our flips. If this were a flip we would have put in a new kitchen, new baths, and more.

We had the property rented for $1,500 a month and it is worth about $285,000 right now! We got this property at a great price in 2014 and the market has gone crazy in Colorado since then as well.

I have been selling some of my rental properties but I plan to keep this one. Our property manager things we should rent it for $1,550 a month and I think we can get quite a bit more. We will see who is right!

You can see what the property looked like when we first bought it here: https://www.youtube.com/watch?v=cjEtxwX5ld8

Here is what it looked like after we first remodeled it. https://www.youtube.com/watch?v=94Wa18cK4wM

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Mark Ferguson’s purpose is to help as many people as he can become financially free through real estate.
Mark has been a real estate investor and real estate agent since 2001, after graduating from the University of Colorado. Mark has flipped over 180 houses and routinely flips 20 to 30 houses a year. Mark owns 20 rentals properties as well including a 68,000 square foot strip mall. Mark is the managing broker and owner of Blue Steel Real Estate. Mark is also a member of the Forbes Real Estate Council.
Mark started InvestFourMore in March of 2013 to discuss his rental property investing techniques. Mark expanded InvestFourMore to talk about his flipping business and real estate agent business. InvestFourMore now has 300,000 views a month and is one of the top real estate blogs.
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