Joel has been investing in rental properties for 48 years and has figured out how to increase rental income without buying more properties.
On this episode, Joel shares practical strategies he uses to get more cash flow from the rentals he already owns. We talk about how he keeps up with rent increases to make sure his properties stay profitable, along with inexpensive upgrades that help units look better and command higher rent. Joel explains his approach to flooring, including LVP vs. carpet, and whether it makes sense to make tenants responsible for washer and dryer repairs.
The conversation also covers how pets can be profitable, whether landlords should charge a pet fee or pet rent, and how to reduce vacancies during the slower winter months. Joel shares his thoughts on when an upgrade stops making financial sense, which improvements often fail to deliver a good return, and how to avoid over-improving rental properties.
https://rentalincomepodcast.com/episode558Thanks To Our Sponsors:Fundrise Income Fund - The Fund offers access to a diversified portfolio of cash flowing assets, all professionally managed by their expert team.
MidSouth HomeBuyers – Turnkey Rentals In Memphis & Little Rock. Instant Cash Flow On Day One. (Priced between $100,000 to low $200's)
Ridge Lending Group - Making the investment mortgage process simple and stress-free. Sign up for a free 30-minute investor strategy session
Rental Accounting Software Made Easy.
Free 30 Day Trial.
