Hi! It’s Lou Brown. With another of my 101 ways for real estate investors like you to win, earn more money, close more deals, and accelerate your cash flow. Today’s tip is number 42. On single family and multifamily properties with tenants in them close on the fifth day of the month. Now, why is that powerful? Because what happens is typically now the management company or the owner has already collected the rent from the tenant. So at the closing, because you used my contract, you’re actually going to get a credit for what’s called a proration of the rent. You see, rents are paid in advance, so on the fifth of the month, only five days had been used up the rest of the month. If it’s a 30 day starting on the first rental, then the rest of the month is a credit to you. Well, if it’s a thousand dollar rental, look at that.
You’re going to pick up another significant amount of, let’s say three fives is 15 you’re going to pick up another $840 approximately of credit towards your closing statement. Well, that might cover most of your closing costs on that transaction. So that could be a really powerful thing. Now, let’s accelerate that. What if you are buying a hundred unit apartment building? Wow. Closing on the fifth of the month, you get all of those rents credited towards your closing statement. Very powerful.
Well, I hope this is powerful for you and I hope you’ve enjoyed it and it will make you money, baby, cause it’s made me money. I’d love to share more of my powerful profitable tips with you. How can you get more just simply wherever you’re seeing this, just please like it. Please love it. Please comment on it. Please subscribe. And please share it with your friends. I sure do appreciate that. Thank you and I look forward to seeing you soon. Yeah, baby!
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