Ways Real Estate Investors Can Increase Cash Flow
One of the biggest cash flow killers for real estate is investors that look at the purchase price only. That really can cost any investor a ton of money.
For Example I have a investor that called me that had purchased a property in a great location, and decided to sell the property. The issue with that is the home has a bad basement and no garage. The property was sold to them by a wholesaler that did not even live in the area!
Anytime you are looking the increase your cash flow get the right people around you that will assist in just that increasing your cash flow. Those people should be licensed with the state and their business needs to be about income real estate.
We just leased a home for a client at $1300 a month, and that is the top rent for that area. We had 2 other applications that where submitted for this property that we did not except. It would have been a whole lot easier for us the accept the other applicants instead we took a lot more time to find the right tenant for the property. The issue might have been those tenants may not have paid rent costing the owner a lot of money instead of collecting income.
Being a licensed real estate agent I personally have a ton of marketing I can do for my real estate clients property. I know that I can get the best tenants because of the marketing power we have. The more potential tenants that will see a property with the mega marketing we do for our listings.
One of the other big issues is the location, there are a lot of bad locations show awesome returns and the investor. The truth is they get bad tenants that do not pay rent. The difference between a $500-$700 tenant is far different than a $1100-$1400 tenant. Our retention rate on tenants that we place is 98% stay there lease term or renew. I do not anyone else that can say that!
The key to increasing your cash flow is buying the right location, at the right price and having a team that really is concerned about increasing your cash flow.
I’m Brett ICON Agent at EXP Realty and I have done 100’s and 100’s of real estate transactions call me at 216–703–5740 or text “income” 1–937–500–0745
Originally published at https://www.clevelandincomerealestate.com.