For reference he only charged us $900 for a 2/2 in an area where $1400 was the norm. His mortgage payment with insurances was $650. So not huge profit but he also bought this as an investment to which we understand markup. We never paid late and treated the home like it was our own.
We ended up buying a home in June 2020. That same landlord at the same time decided he didn't want to be a landlord as he was afraid of getting a shitting tenant as he had before us.
So he sold. He paid $89k for it and sold for $110k. It was an older home so this was in line at the time. He also gave $1000 at move out due to the constant showings.
I looked up recently and the new owner is listing it for $1800 per month. Plus pet fee and mandatory lawn fee of $50. The new owner is a company that has about 100 properties in our part of the state.
Nothing was changed after we moved out other than a paint job.
My mortgage with insurance is $975.
I honestly do not understand how people can afford to live here. There are no strong paying jobs here. Its all retail/food and small mom n pop places. Yet someone lives there. Mcdonalds is probably the highest at $15.40
I feel for my friends who rent. I can see it in their face. Im not even wealthy. I still count my pennies and shop thrift stores for my clothing. It's hard.