Where/how to find highest cash flow?

[Zac Stiles]

Where are you finding the highest cash flow for long term rentals? Or how, if you have more of a strategy than a location that brings you higher cash flow.

I have a single family rental in Illinois for the high cash flow and planned on getting more. Due to higher rates etc, the margins are getting tighter than I want. Looking for advice from others across the country! Thanks.

[Zach Taylor]

@Zac Stiles I agree with @Taylor L. in that location does indeed play a role in cashflow, as some areas are simply higher than others. One thing I do when analyzing a deal and looking to increase cashflow is ask, where can I cut expenses or increase income on the property. Could the rents be higher? Can I vacate the unit, apply some rehab, and increase the rents? Can I submeter or reallocate utility costs to the tenants? Rent by the room if my building is near a metropolis or airport? Is there a garage that I can rent out to an additional tenant for storage? Things like this are what I look for to add to the NOI on an existing property. Also look at other properties which are renting for higher values. What are they doing to achieve those rents, and can you replicate that?