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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.
Hi, it’s Lou Brown. I’m back with another detail ready for our Massive Passive Income, the event that comes up at the end of April 30th, May 1, 2 and 3 and I’m really looking forward to seeing you there.
And one of the things that I covered during that event is Proper Property Management or Informed Property Management as well. And one of the important things is when you are hiring a property manager, what should you do? Well, the first thing you should do is evaluate whether you actually need a third party property manager. Because when you offer a certain program in the marketplace, property management can actually be a very small part of your week or even your month with a particular client. What we find is that only about 10% of the residents need any attention during a month’s period of time. So imagine that you have 10 20 a hundred rentals.
Hi, it’s Lou Brown. I’m back to share with you some other thoughts about Massive Passive Income and what can happen in your future of the buying and holding strategy to be able to generate income for you now and forever.
Hi, it’s Lou Brown. I am so excited to share with you some thoughts that I have. We have an event coming up. It’s called Massive Passive Income. And I was looking through the table of contents on, you know what I’m going to cover during this event. And it’s kind of interesting because I’ve been in this business of buying, holding, and selling property now for over 40 years and I’ve learned some amazing things. I’ve had over a thousand sections, eight residents. I’ve done so many different things in terms of managing and one of the things I’ve learned is that I have developed some incentives for people to actually follow the agreement that they’ve entered into. And I’ve learned some lessons along the way. But this economy that we’re in right now is very scary for a lot of people. I will tell you why I’m not afraid. The reason is that our residents want to pay us. They’re excited to pay us because we’ve developed some things that give them some things in the game. You know, typically when somebody is looking at paying a landlord, that’s like something they have to do instead of something they want to do, right?
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