As an investor, you always need to be looking for ways to maximize the return on your investment. When I analyze the financials of a prospective property, I am always looking to see where money can be saved, and where additional revenue can be gained. Areas like laundry, storage, and parking can all be sources of additional revenue that a previous owner may not have taken into consideration, or not utilized to their maximum potential.

A classic example that I run into in so many multifamily investment properties is laundry equipment contracted out to third parties who supply and maintain the equipment, and the return is almost comical it's so low. I have found that by purchasing my own equipment, and financing it over several years, I can make more money than if I had someone else managing the equipment. I find this only works if you are using the current generation of smart-card based machines, as opposed to coin operated. No more coins to collect, sort, roll, and deposit; just bills! The machines are also less likely to be vandalized if there is no money in them.

Another more lucrative method of making more money is to resell all of the utilities and telecommunications services that your tenants use. What if you could earn money off of your tenant's telephone, Internet connection, cable or satellite TV, and gas bills? Did you even know that was possible? You can even make money off your friends and family, and get a rebate on your own telecommunications and utility bills. And the best part is, their bills may even end up lower than they are now.

I am offering gift card incentives for my tenants to sign up for all their services through me. For every service the sign up for, I give them a $5 gift card. The best part is I make residual income off of their telecommunications and utility bills for as long as they remain on those services. How sweet is that!

If you're interested to find out how you can cash in on this alternative revenue stream on all of your investment properties, drop me a line and I'll tell you how to do it.
 


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