It’s not just about how much cash flow you can make, but how much can you keep!
When you’re investing in real estate, you want to keep your eye on the cash flow of the property. This is how much money you’re able to make after you’ve paid all of your expenses.
At first, it seems pretty simple: if you have a property that rents for $2,000 and you pay $1,700 in expenses, then you’re earning roughly $300 a month or $3,600 a year. But if the roof of the property started leaking, and you had to spend $2,000 on roof repairs, you’re only left with $1,600 in cash flow. And if your property is vacant for a month or two on top of those roof repairs… well, you’re likely to find yourself in the red.
That’s not what you want, and that’s not what we want for you.
As you’ll soon see in our latest video, the three biggest cash flow killers in real estate are vacancies, repairs and maintenance, and management costs.
While these costs are inevitable to a certain extent, we also feel that there are several things that smart investors do to significantly reduce these costs over the lifetime of owning the property. And it all starts with doing the right type of research before making a purchase.
In our video, you can see:
- How thinking about the type of tenant you want to attract before you buy a rental property can significantly reduce the amount of money you lose through vacancies: a potential saving of thousands of dollars a year.
- How you can evaluate a potential property through the eyes of a future tenant so that you can determine whether it has all of the things they will want… or any of the things that they don’t want.
- How simple tweaks to the property can save you a lot of money in maintenance and repair costs.
At TriUrban, we believe that income properties should be self-sufficient. Once you put the 20 percent down, you shouldn’t have to spend your own money to maintain the property. This can be achieved when you use our suggestions to buy the investment properties that are right for you.
I would love to be able to help you on your real estate investing journey. Below we have two options: one will take you to a very simple form so you can simply gather some more information and the other will take you straight to my calendar where you can book a 30-minute consultation with me.
