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With access to world-class management tools and reporting at zero cost, Bob reduces the monthly operating expenses on his rental property portfolio by $70 when he drops his other expensive software subscription.
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Reduce operating expensesĪfter brining his rents to market, Bob also takes advantage of Stessa’s free rental property software. There are nuances to this, but as a general rule this is often the case. Typically, expenses are more static than rents, so as you raise rents your mortgage, taxes, and insurance costs often decline as a % of gross rental income. His income goes up, and assuming his expenses stay the same, the result is as follows:
So, when he renews the leases, he also raises the rent at all three properties to market.
He learns that rents for properties comparable to his are going for $1,050 per month. Raise current rents to market rentsĮvery year Bob pulls market rent comparables to make sure the rent he’s charging his tenants is at least on par with the market. Sounds pretty good, doesn’t it? But there are ways that cash flow investors may be able to further increase their income every month: 1.
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How to create positive cash flow: 3 winning examples