Creative Ideas to Increase Cashflow on Buy and Holds

[Alexandra Wenzel]

Hey ya'll!  I've been using my time during stay-at-home to put together some processes.  I was thinking that it would be a great idea to have a list of creative ways to add value and increase cash flow on buy and hold properties.  

A few that I've thought of:

• Convert dining rooms to bedrooms
• Convert large single family to duplex
• Billboard advertising if the home is next to a highway or busy street
• Subdivide a large lot and build another rental
• Convert to student housing

What creative things have all ya'll done to make a good deal even better? 

[Jordan Kashav]

Some others that I've used/am considering/had recommended to me:

• On-site, coin-operated laundry machines (most relevant for multi-family properties)
• Renting out storage space in basement or on-site shed
• Renting out unused off-street parking (where I live, winter RV parking is at a premium)
• Converting non-conforming to conforming rooms (including basements) to allow for re-organization and classification as bedrooms
• Adding accessory dwelling unit(s) to your property (may not even require separating lots)
• Separating utility metering (or installing individual unit readers) on multi-unit properties that are currently metered together
• Depending on your market, furnishing a portion of your units and renting them out fully furnished to shorter-term renters
  

*Some (most) of these will depend on how individual properties are zoned, what zoning requirements are in your locale, and what there is demand for in your market.*

Eager to follow along and see what other suggestions are shared!