How can you INCREASE cash flow from your properties?
Well, it’s pretty obvious that you need to go and get more properties and units to be able to create an increase.
That is always on my mind and always on my plan to continue to add assets that will produce cash flow.
The question is “What can you do with your existing properties to make sure that your cash flow is maximised?”
✅ Keep everything up-to-date so it’s always people's top choice.
✅ You can adjust your strategy to create higher income. I have properties that were once designed to be HMOs that have now been turned into studios and rented out on service accommodation basis.
✅ Keep a very close eye on your profit and loss and your accounting to make sure that your occupancy is 100% or as close to it as possible. And make sure the people that are in the property are actually paying.
✅ Have a mixture in your portfolio of interest only and repayment mortgages. Interest only will allow you to increase the cash flow repayment mortgages over a longer period of time. It will create a bigger gap increasing your equity and lowering the amount owed to the bank.
✅ Get the cheapest money. When loaning money from different avenues, don’t be afraid to move money about.
✅ And as always, do your PPA! That is your Portfolio Performance Analysis and this will tell you how your portfolio is performing and this intelligence will allow you to work out what decisions to make.
Do you want to focus on what you do want in life versus what you don't want?
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