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Hi, it’s Lou Brown. I am back with another of our 101 cash flow accelerators. It’s so exciting to share with you things that I’ve learned over being in this business for over 40 years. And one of the things I’ve discovered is to build into your rental agreement rental increases. Now what that means is that you’re telling your resident in advance that the rent may increase by X percent annually. So what that means is that you now can, can prescribe in advance that the rent may go up, say 10% and then what that means is now we tell the resident at what we call the signing ceremony. This is when we meet and we go over that document. This is when we train them to be a good resident. This is when we tell them everything that they need to know about becoming a good resident and being a good resident in good standing with us.
Hi, it’s Lou Brown. I am back with another of our 101 cash flows accelerators. And one of the things that we’re focused on in this part of the series is Property Management. Proper property management. Informed property management. And one of the most important things you can do in property management is to have excellent documentation. And not only to have actual excellent documentation, but also to train your residents to be a good resident. So what we do is we have a signing ceremony, we call it the signing ceremony and we invite the resident to come into our office. But if you don’t have an office set up a location, it could be a hotel lobby, it could be the local waffle house, Denny’s, where ever that you can have a quiet place, you can sit to be there for a while in a comfortable environment, not at the empty house so that you’re going to rent to them or the apartment sitting on the floor.
Hi, it’s Lou Brown. And I am back with more education for you to train you to be a professional property manager, help you succeed in the world of buy, hold and sell. By the way, that’s the name of my upcoming new book, “Buy, Hold and Sell”.
Hi, it’s Lou Brown. Welcome back to another of my 101 cash flow generators, cash flow accelerators. I want to help you be successful in this great game of buy, hold and sell. By the way, that’s the name of my upcoming book.
Hi, it’s Lou Brown. I’m back with another of my 101 cash flow accelerators. It’s so great to see you. This is part of a series when Managing Property. Each one of the different segments of the 101 cash flow accelerators is divided into separate segments. This one focuses on managing your property. I’ve been buying, holding, and selling property now for over 40 years. Love the business and one of the things that we do is always teach you how to have effective property management, efficient property management, and profitable property management. And this one has raised rents annually. You know, one of the big mistakes that landlords make is that they don’t raise rents. They get very confident and comfortable in their relationship with their resident and they don’t want them to move. I don’t blame you for that. I’d want to feel the same way. However, what happens is inflation is a real thing.
Hi, it’s Lou Brown. I’m back with another of my 101 cash flow accelerators. In this segment, we’ve been talking about Managing Property. And if you’re like me, you want to have fewer headaches and more income, and one of the things that I discovered years ago is when I give my residents an opportunity to be in a position to own the property, I’m going to get a better resident, a better mindset, better incentive to pay us on time, more likely to take better care of the property. So years ago I started doing something called an option, a lease with the option to purchase the property. Now, way back in the day, they used to do six-month leases. Homebuilders would do that with an option to buy, to get people into the next season, maybe get over a bump in their credit, and then give them the chance to buy the brand new home.
Hi, it’s Lou Brown. I’m back with more details about our upcoming event. Massive Passive Income. And one of the things you always want to think about is taxes. Taxes are something that you have to pay if you don’t have another plan, right?
Hi, it’s Lou Brown. I’m back with another one of my details of the upcoming event called Massive Passive Income. Where I teach you how to, how to hold these properties long-term, and how to make the most income you can off the property.
Hi, it’s Lou Brown. I am back with some more details about our upcoming event, Massive Passive Income. I’ve got another story to tell you about some interesting people I’ve had in my life and screening residents is so important. It’s a key factor in being successful in owning properties long-term. You know when you do good screening, when you manage that process yourself, I know that sometimes people outsource that and frankly that’s not the best idea. What I’ve discovered is you have to be very much a detective. You have to look at, well now I’m hearing what these people are saying, but what if it’s not true? What if they are saying? Eh, you need to question everything, verify all assumptions. There are people, I’ve been amazed at. Now, remember, I’ve been managing properties now for over 40 years, so there’s a lot that I’ve seen over those four decades of managing people and it’s interesting to see how con people operate.
Hi, it’s Lou Brown. I’m back with another detail on our upcoming event. Massive Passive Income. Where we’re going to spend four days together on what to do and how to do it to build an amazing cash flow generation business.
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