Why the U.S. was Downgraded…
“Why the U.S. was downgraded…
- U.S. Tax revenue: $2,170,000,000,000
- Fed budget: $3,820,000,000,000
- New debt: $ 1,650,000,000,000
- National debt: $14,271,000,000,000
- Recent budget cuts: $ 38,500,000,000
Let’s now remove eight zeros and pretend it’s a household budget…
- Annual family income: $21,700
- Money the family spent: $38,200
- New debt on the credit card: $16,500
- Outstanding balance on the credit card: $142,710
- Total budget cuts: $385 ” – Anonymous
Those glib, self-serving dip-wads in the Congress and Federal Government are killing us. Thanks to Josh Mettle’s Blog for this enlightenment!
Use Niche Marketing to Upgrade Your Tenant Clientele & Increase the Value of Your Rental Property
Is there a disconnect between the highest and best use of your rental property and your marketing niche?
That’s a really important question that has given my partner/son Josh and I the ability to create an increased cash flow, an improved tenant clientele, and increased property values on all of our units over the last few years. Of course, we didn’t ask the question exactly that way, because “niche marketing” has only become all the rage in the past several years. But the thought process is the same.
There’s some fun and profitable lessons here, so let’s explore the subject.
First of all, niche marketing is defined as the marketing of a product or service to a small and well-defined segment of the market place, typically a market whose needs are not being well served.
Some various residential rental property niches might be: high end, low end, ghetto, on the way down (deteriorating), on the way up, mid-level rentals, seasonal, senior housing, student housing, low income housing, subsidized/Section 8, etc. Then each one of those categories could be broken down into even smaller segments.
You need to always, always, always invest primarily for cash flow, so whichever niche you choose should lead you to an increased cash flow. To flesh out the idea, here’s some personal examples: More…
Ka-ching! That’s Your Curb Appeal Working for You
Gosh, it is so cool to own a little rental property!
It’s (normally) growing in value, it’s a forced savings so you’re not tempted to spend your down-payment and growing equity on doo-dads and bright shiny things, your great tenants are paying your mortgage down every month, you can keep more money in the family budget every year because of the savings on your taxes, you will have nice passive cash flow from now through retirement, plus you’ll have something of value to leave to your loved ones or favorite charity.
Sweet!
But it takes constant vigilance to keep the property in good repair. On the front end, it can be painful when you’re shelling out remodeling bucks. But upgraded properties = an improved tenant clientelle, an improved qualify of life as a landlord, an improved quality of life for your tenants, plus the value that will be added to the neighborhoods where your properties are located are all immeasurable benefits! Good landlords add a lot of value to the communities where they own property. It’s the ONLY way to do business as a landlord. More…
Here Comes Spring Turnover!
Can you feel it? Spring is appearing and change is in the air. Our landscape contractor has already begun to clean up and beautify each of our properties. We’ve had a bunch of residents respond happily and thank us.
The last two years were “lean” so we skipped adding new black soil to the planter beds and raked them out instead. We also planted fewer new flowers and perennials. But this year we’ve budgeted for a little more beautification because we intend to compete like crazy for the great tenants that will be looking for a fresh new apartment.
Spring and summer are a residential landlord’s biggest turnover months, so get ahead of the curve with your marketing plans, and don’t forget to also do everything possible to keep the great tenants you already have!
Most of the turnover will be done by the end of July, so work smart to have every vacancy filled by then. August vacancies will be much more difficult to rent because of the reduced demand, and by September it will be super difficult to attract the few tenants that will be moving in the fall and winter months.
Now is the time to prepare to compete for the great tenants that will be in the market for a fresh new apartment in the next few months!