Investor discovers new sideline while increasing rental profitability.
Max Cash Flow Now: Take yourself on vacation using your increased rental property income. I was driving home in 11-degree temperatures from a meeting with one of our rental property owner/students. He was telling me about his upcoming vacation to warm and sunny Mexico. While some of you reading this in warmer climes I write from the Colorado Rockies where when winter hits there is no mistaking it! The point though, is we all enjoy a vacation to break up the winter months.
Our student mentioned that he skimmed a little off his rental income every month to add to his vacation fund. “Before I worked with your program my gross rents were barely getting the expenses paid; now it does that twice over and leaves me a little play money.”
Not everyone would take this approach with the additional income they generate from their rental properties. I understand. Some would even think it bad business not to put the entire added profits back into their investment, but then again . . . live once and enjoy it!
There is so much room in the deal after transforming your rental property with our unique approach that considering taking a little every month and padding your vacation fund may not be such an imprudent idea. How many rentals do you have right now that would help pay your way to Mexico this winter?
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Comments (2)
Good point Eric. Many investors who own rental property are pocketing a $1000 a month in net profit per property, by considering renting to different tenant populations. Seems to me more would people would be interested.
Alf Gizzo, over 16 years ago
It's always surprises me how few people think about rental properties as a way to generate income and overall wealth. Eric Steinbach - www.realestatecrew.ca
Eric Steinbach, over 16 years ago