Invested most of your savings in property? Wondering how you can increase your cash flow? This blog post will highlight some of the ways to increase your cash flow from your properties.
1. Increase Your Rent
If you’ve been investing in the same property for a long time, chances are that your lease has expired. You can increase your rent by offering incentives to your tenants like paying their security deposit when they renew their lease (if applicable), or by giving them one free month of rent when they renew their leases. As far as you’re receiving rent from your properties, there isn’t much that you have to worry about.
2. Use Your Properties
Some investors like to leave their properties vacant, but there are others that like to rent out the property or use it for some other purpose. If you’re getting rent from one property, it’s always better to use the cash flow to pay for other costs like your mortgage or any other debts. When you make money on your properties, there is no need to leave them vacant because you accumulate more cash flow by using the property.
3. Flip Properties Frequently
You can flip properties by fixing them up and renting out or selling for a higher price. When we talk about flip properties, we are talking about renovating a property and selling for a better price or renting it out. This is a great way to increase cash flow from your properties. By renovating a property, you can increase the property value from time to time, and when it comes time to sell the property at a higher price, you have more money in your pocket. Your goal is not to keep flipping properties for profit, but to keep the cash flowing in with rental income from your renovated properties.
4. Invest in Other Properties
When you invest in multiple properties, you increase your cash flow by receiving rent from several properties at the same time. You can also invest in multiple real estate projects at the same time. This is great because when you see profit, it will come back to help you with other investments. Seek the help of real estate agents to identify which properties can be good for investment.
Insula Capital Group is a private lending and real estate investment company in NYC that has been providing fast funding and an easy application process for real estate investors. We offer hard money loans for real estate investors, private money loans for real estate, refinancing loans, and much more. Get in touch with us to find out more.