Reduce your spending or increase income for a home or property?.
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by: Guest
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\"What is important? \" What do you think? Well, of course, my answer is that the ceiling is, but - I will not leave you hanging, I\ll tell you what I mean.
The first question you need to ask is which has the most profitable payoff? If I raise my rents on my 100 unit property $25.
This could have the potential of increasing the property value about $300,000.
Or, what if your insurance was $33,000 per year.
You not only made a nice impact on your cash flow but your property value is now $75,000 more.
What if you did both of these at the same time? Wow!
The thing to keep in mind here is to be working on both simultaneously.
It's really ALL about the cash flow and all about the NET INCOME that a property produces.
But I\ve got bad news.
To be blunt, there isn't a service that you can hire, or a high-priced consultant that can do this for you.
It's all up to you and / or your management team.
It would be great if you could just hand this off, but unfortunately these kind of folks have a hard time seeing it through the investors eyes.
Finally, cuts in spending are all kinds of transactions with suppliers, such as cable, high speed internet, etc. made.
should be negotiated by you at point of purchase with you getting a piece of the action - licensing rights is the best since his will consistently add to the Net Income of the property.
Laundry machines and vending machines are easy, but, it gets harder from there.
I am sure you will be able to land a few.
without any remodeling or rehab expense and headache.
.
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