Originally Posted by doitmyself
In the thread above, Fawteen states that the 38 x $900 x 9 months = $307,800 is the annual take home profit after expenses are deducted.
There are, on occasion, other expenses. For example, a couple of the properties had some roof damage after Michael. I put the tenants up in an extended stay hotel for a month while insurance repairs were made, and there was some other minor damage (privacy fence, siding, etc.) that wasn't covered by insurance. And there are always vacancies to consider; when we lose a tenant it can be anywhere from a week to a couple months before it starts generating income again, so that 307 figure isn't quite accurate. But it's still pretty lucrative for someone willing to put the time and effort in at the front end. This area has a lot of military personnel who transition in and out, so it's rare for a property to remain vacant for very long.
And when the day comes that I want to stop altogether I'll just sell the properties, pay taxes on the gains, and bank the rest.
