Rental Property Income Increased by Maximizing Profit on Current Holdings. Los Angeles,CA
Many people have entered the real estate game recently, as either a hedge against questionable earnings in their stock or bond portfolios, or just to add to the return of their retirement accounts.In some areas of the country, Denver and Indianapolis to name two, there are scores of buyers chasing too few real deals, which naturally drives up prices making the "deal" aspect of the potential purchase vanish.
Logically it would be important to discoverer whether there are ways to take full advantage of what your current holdings could produce. There are many niche areas in which to consider that will increase rental cash flow; crash pads, student housing, rooming houses, elder homes, homes for the developmentally disabled, homes for disabled veterans etc. Which is the most profitable and least time consuming?
Let's take a closer look at your property inventory. Do you know of a single family or multi-family residence that is close to good public transportation or walking distance to convenience or grocery stores? These make excellent candidates with which to operate transitional housing. Let's say one of the current rental properties you own is a little 3 by 2, what if it could make $1,900 a month in gross rent? What if a 4 bedroom, in a working class neighborhood, could generate $2,700 a month in rent? Would that be worth looking into - if knowing it isn't going to eat up all of your time to manage it?
Not only can it be done, but we and others are doing it right now, without leases and with a tenant population who will conscientiously respect your property. Check out more by downloading our free Ebook on the right side bar of our main blog site, and start to think differently about how you treat your rental properties and how they treat you!
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