Creative ways to increase cashflow!

[Eric Bunratty]

Hey BP! I am just getting started in both the real estate and BP worlds -- I love the fact that, as owners, we have the ability to pull on different cost-levers to increase the performance of our properties! I have a goal to increase my cashflow by 25% without raising rents... here's my progress and how I'm doing it. Would love to hear other ideas & feedback. Let's help each other increase the performance of our portfolio's! 

Current cashflow: ~ 750 monthly at a small multi-family property - 4 units

Cost Levers:

• Garbage bill: $105 monthly --> transferring to tenants; +14% cashflow improvement
• Storage Shed (8x8): 1000 install price yielding a $50 monthly cashflow --> +6.5% cashflow improvement

Other Opportunities:

• Water Bill: currently around 350 monthly - this is paid by owner which is the county standard, but I am unsure if it is a hard requirement. If it is, any upgrades that would noticeably decrease a water bill? This represents a HUGE chunk.
• Property Management Fee: +10% cashflow improvement 

User-Submitted Ideas:

• @jeff gates - side yard RV storage, $100 a month. potential advertising on exterior fence; +12% a month

• @AI Williamson - blog post with some good ideas; https://www.biggerpockets.com/blog/2015-04-28-ancillary-income-covers-63mortgage