Our Property Management Success Stories
RAW Property Management’s managed portfolio has a market value exceeding $50 Million. Some of our clients earn over $200,000 annually.
We have helped countless real estate investors grow their portfolio in Cincinnati/South Western Ohio/Northern Kentucky 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 (purchased 2014)
Repairs: $30,000
Current Market Value: $135,000*
Current Rental Price: $1,300* per month
*as of 2023
Challenge:
Helping this California investor obtain the support he needed to invest in the Cincinnati real estate market, rehab the property, and provide successful property management for over 9 years.
Background:
After calling several other Cincinnati brokers, this California retiree called us 10 years (in 2013), wanting to invest in residential rentals.
Our Approach:
We viewed and made offers on several properties, created a estimated price range to repair, and managed the contractor hiring process.
Results:
We assisted this investor in purchasing 3 single family homes and a 4 unit apartment building. We have managed these properties and helped them grow in income each year.
Success Story #2
4 unit apartment building – 4, 2 bedroom units
Original Purchase Price: $203,500 (purchased 2020)
Current Market Value: $265,000*
Current Market Rent: $2,825*
*as of 2021
Challenge:
Helping this Cincinnati real estate investor create wealth and equity through real estate rental ownership.
Background:
This investor is based in Cincinnati. Our previous client listed the property for sale with us. The new investor purchased the property through his own agent, but kept RAW as the property management company. After a year of management, this investor asked us to manage his other property, a 3 family building.
Our Approach:
In the short term, our goal was to maintain full occupancy and increase rents as the market would allow. We were able to increase the income $305/month over the 6 month period starting from continued management commencement.
Results:
Property sold in fall 2022 for $310,000 resulting in cash on cash return of 250% in just over 2 years!
Case Study #3
4 bed 1.5 bath house
Original Purchase Price: $21,000 (2012)
Rent: Owner had 6 years of rents at $800-900/month.
Challenge:
Low income non-subsidized renters who did damage (high repair bills) and frequently did not pay rent. Even with the low purchase price, the owner never had a positive cash flow year.
Background: The property had never been updated (1930’s construction)
Our Approach:
RAW became involved in 2018 and after convincing the property owner to make the investment, we had a strongly positive last 12 months at a 12.5% cap rate (based on full market value of $160k)
Remodeled home in 2019/2020 – HVAC, new windows, updated kitchen, turned 1/2 bath in full bath, new flooring, and paint throughout $60,000
Results:
*as of 2023
Current rent $1595, current value $160k
