All Topics / General Property / Newsletter: A Ray Of Hope – Profits Up

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  • Profile photo of Steve McKnightSteve McKnight
    Keymaster
    @stevemcknight
    Join Date: 2001
    Post Count: 1,763

    Hi, this thread is to discuss the ABS results discussed in the February 2007 newsletter that will be posted today. Please post your replies in this thread.

    Thanks!

    Steve McKnight

    **********
    Remember that success comes from doing things differently.
    **********

    Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
    https://www.propertyinvesting.com

    Success comes from doing things differently

    Profile photo of aholberyaholbery
    Participant
    @aholbery
    Join Date: 2006
    Post Count: 1

    Steve, you mentioned ….”many investors are afraid of increasing the rent for fear of losing the tenant” ….. I had really good tenants, 2 nuns actually, staying at my rental property. They were very very good tenants, and because of that (as well as the fear of God) I hesitated increasing my rent for a long time. Mid last year I asked my agent how far off was my rent from the market rate, and realised that I could be earning between $40-$50 per week more than what my rent was at that time. That proved I have been a very irresponsible investor, and I corrected it by requesting for a small increase, with the intention to slowly raise it to market rate. Last week, the sisters notified my agent that they were being relocated, and will be terminating their lease next month. While I’ve enjoyed them as good tenants, I’m now also excited that I can finally be cashflow positive on this property with the new tenants, who will be paying rent at the correct market rate.

    Profile photo of foxinthehenhousefoxinthehenhouse
    Member
    @foxinthehenhouse
    Join Date: 2007
    Post Count: 5

    The fox says – the fox is increasing rents for all hens in all hen houses – poor laying hens will need to find another place to roost

    Profile photo of js2js2
    Member
    @js2
    Join Date: 2003
    Post Count: 758

    The stars are only beginning to align….,Mr McKnight have you got your Captain Spaceship ready.

Viewing 4 posts - 1 through 4 (of 4 total)

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