Looking for extra income when doing deal analysis
Hi BP Community,
I've been using the BP calculators to get more comfortable running my numbers. We all know cash flow is hard to come by in today's market (especially here in Northern NJ). I'm looking to find other ways to produce more cash flow via laundry fees, storage, parking fees, etc. Are there websites I can use to find these fees? Thanks in advance everyone!
#4 All Forums Contributor
- Plymouth, MI
Cash flow isn't hard to come by. Just change the market you're looking in.
Quote from @Deven L. Richardson:
Hi BP Community,
I've been using the BP calculators to get more comfortable running my numbers. We all know cash flow is hard to come by in today's market (especially here in Northern NJ). I'm looking to find other ways to produce more cash flow via laundry fees, storage, parking fees, etc. Are there websites I can use to find these fees? Thanks in advance everyone!
I think if you build or renovate the cash flow is there. I would try to run numbers to see if buy and hold is a better option than a few but we are still finding good opportunities in this market on the beach! You have to get creative.
#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
- Investor
- Austin, TX
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#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
- Investor
- Austin, TX
All you can do is run a comparable analysis and see what other properties charge for these kinds of services
One of the most effective strategies we have used is to charge for utilities and renting our units pre-furnished. It changes the tenant type and rental length, but it may be best to find a deal where the numbers work out in your favor.