Creative ways to increase income/ROI
Hey Everyone my name is Cody, I am 21 y/o living in SLC, UT and I am just getting into house hacking and real estate investing. I wanted to ask and start a conversation about what additional/creative ways people have used to increase rental income or ROI on a property as a whole (such as ADU, converting garages, Airbnb, certain high ROI rehabs). Especially in today's competitive market, being creative has never been so important!
If you have any ideas please drop them down below and hopefully we can build a long list of great strategies, thank you!
Also If anyone wants to reach out and talk more about real estate I am always open to learn and help any way that I can!
Most Popular Reply
@Cody Sears I can add $50/month on the rent if a unit has a washer/dryer. Purchased new a work horse set that’s pretty basic with no electronic components runs me about $1100. It gets paid for in 2 years and then I have pure cash flow off it.
As far as renting garages or extra space my insurance will not allow me to rent anything to a non-resident. So if you’re considering this check with your insurance company.