As investors, we know there are two main ways to put more cash flow in our pockets. We either need to increase income or reduce expenses. This is simple, but not always the easiest to do. Whether you are just starting out with one property or you are managing over 100 properties, reducing expenses becomes critical to your success and growth. In today’s video, my goal is to stimulate your thinking about your property expenses.
I share three ideas to reduce (and potentially eliminate) your expenses, which include:
- Question each expense.
- Use efficiencies.
- Ask yourself, “Are the ‘fixed’ expenses really fixed?”
As always, let’s get some discussion going. What clever ways have you reduced your expenses?
Thanks for watching! Be sure to leave a comment!