Newsletter: A Ray Of Hope – Profits Up

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.

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