Day 8: Explore Refinancing Opportunities Investigate the potential benefits of refinancing. How much equity is there to harvest? As rates come down, what is the cost to the borrower projected to be against the expected return of redeployment?
Day 9: Monitor Market Trends Stay informed about current market trends and predictions. Understanding the market can help you make more informed financing decisions.
Day 10: Evaluate Rent Pricing Regularly evaluate and adjust rent pricing based on market trends and property improvements. Striking the right balance ensures fair returns and tenant retention.
Day 11: Market Your Properties Effectively Enhance your property marketing strategies. Utilize online platforms, social media, and high-quality visuals to attract potential tenants or buyers. If professionally managed, ask your property manager to share what marketing collateral they use.
Day 12: Tenant Retention Strategies Implement tenant retention strategies. Offer incentives for lease renewals and create a positive living experience to reduce turnover.
Day 13: Budgeting for Renovations Allocate a budget for property renovations and improvements. Prioritize upgrades that enhance property value and attract quality tenants. The amount for this can vary based on a number of characteristics, most obvious is the age of the property and what recent renovation has been done.
Day 14: Network with Other Investors Connect with fellow investors to learn about their financing strategies. Networking can uncover new opportunities and insights.
