Real Estate Rookie

Is Cash Flow STILL King? How to Get More of It in This Market (Rookie Reply)

7 snips
Feb 14, 2025
Cash flow is becoming a challenge for investors in the current market, prompting innovative strategies to maximize returns. Learn how to manage rental properties effectively from afar, covering everything from showings to inspections. Key tips on leveraging equity for future purchases are shared, alongside insights on whether to pay off an existing rental or buy more. Discover essential negotiation tactics when dealing with repairs, ensuring you're prepared to navigate the complexities of real estate transactions!
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ADVICE

Managing Showings Remotely

  • Consider using a leasing agent or property manager for showings if self-managing remotely.
  • Explore lease-up services offered by property managers or realtors as an alternative.
ADVICE

Managing Turnover and Inspections

  • Get multiple quotes for maintenance and turnover costs instead of relying solely on property managers.
  • Conduct thorough move-out inspections, possibly with a handyman or leasing agent, and document everything.
ADVICE

Property Management Tools

  • Utilize property management software like RentRedi, TurboTenant, or Avail for rent collection and maintenance tracking.
  • Consider maintenance dispatch services such as Latchel and Lula, which integrate with some software.
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