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Updated almost 5 years ago, 03/21/2020
How to Generate More Cashflow Before the Banks Stop Lending???
Hey guys! So My buddy and I were talking yesterday about the corona drama and our rentals. We were talking worst case scenario. He was telling me that he doesn't make much from his 3 rental properties (3 SFH) and that he needed more cashflow. He asked me how would I create more. Uhhhh
Anyway, he said that if I remember in 2008-2010ish the banks stopped lending so if he needs to borrow something the time is now!
I told him that I would drop it into the community and see if anyone had ideas. Here is the situation:
He has a wife and a one year old
Sales job 100% commission, (car or RV sales or something. Really slow right now)
She doesn’t work
They have a paid off 200k home
3 single family houses about 200k each, 50% paid off each (2 strong tenants work in the medical field)
$300 cashflow each house per month after all is paid
How would you create more cash in these uncertain times before it gets too bad?
This may help out other people too! Open to all suggestions.