Strategies To Increase Apartment Investing CashFlow
|Want to increase your real estate investing properties cash flow? Have any apartment buildings you would like to improve? I'm going to show you how to increase your monthly cash without spending a dime and start putting more money into your bank account each and every month.|
You can do this by uncovering hidden marketing assets within your properties. Once you learn where to find these assets and how to use them, you will be able to increase your sales and cash flow by 10%, 20%, 30% or more.
Step back and look at all the possibilities your property offers its residents and marketplace. These strategies will help you optimize and leverage your marketing assets so that you have a stronger operating property. Here are few areas for you to find hidden assets:
Get Inside Your Property
That's easier then you think. Take an hour and contemplate on the following:
•Uncover hidden assets
•Reveal over-looked opportunities
•Find under-valued relationships
•Expose under-performing activities
What did you come up with? Most investors, does not matter the size of the property will be able to think of a least one example for each.
Areas To Optimize & Leverage Hidden Assets
Now that we've identified a hidden asset of your apartment building or cash flow investing property, the following examples are great ways to put the asset in play:
•Under-promoted property competitive advantage
•Unique service or amenity
•Sub-par leasing performance
•Relationships with other business
•Big property strengths
•Current sales & marketing process
•Up-selling additional services
4 Strategies to Optimize and Leverage Your Assets
1. Differentiate Your Property: What makes your property unique? Find your properties uniqueness by conducting a property and market assessment. There's a great book out that you should read. It's called "Differentiate or Die" by Jack Trout.
That's exactly what landlords need to do with their properties to be successful. We have to differentiate your property so that you stand out among your competition.
2. Optimize Your Current Marketing: Optimize your current marketing by integrating the competitive advantage that makes your property different into all of your marketing.
3. Optimize Your Current Customer Base: Build a solid customer relationship marketing program. This program will be centered on building a consistent resident referral system. If you are successful at implementing the first two steps, building a solid and consistent resident referral program will be the very bedrock of your financial success and generating more cash flow.
4. Building Marketing Alliances: There are many ways for your property to partner-up with local businesses. Think about it. People that live, work, shop and play in your local market stay within that market. Building alliances within that market will help you get referrals. And guess what? Referrals are as good as gold because there's very little selling when they come to your property to rent.
Start optimizing and leveraging you properties hidden marketing assets so that you can increase your occupancy, reduce unit turnover, and reduce concessions. These four strategies will help you drive more cash flow to your bottom line.
I hope this tip serves you. I look forward to helping you reach for the stars!
|Craig Haskell is author of, The Inside Game to Real Estate Value Investing, and founder of an investing site, ValueHound, that brings together a community of opportunistic and value minded real estate investors who are serious about learning new approaches to capitalizing on today's "Once in a lifetime" buying opportunity. |
Craig, one of the nation's leading expert on the subject of real estate value investing, has helped hundreds of investors and organizations around the world to become more successful value real estate investors with his unique training and coaching programs that focus on making money capitalizing on today's undervalued real estate market.
Craig Haskell has devoted over 25 years to value real estate investing, and has owned and managed 7,200 units and 2.8 million square feet of commercial space and provided advisory services on over $2 billion in value. Craig's extensive personal real estate investing experience was the basis for the Value Hound Blueprint, a value investing system for real estate investors. Craig Haskell is also author of How to Take an Apartment Building from Money Pit to Money Maker, Secrets of Successful Apartment Buildings and A Guide to Creating Successful Apartment Advertisements.
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