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Updated about 9 years ago,
How we increased cash flow by $601 per month on 2 duplexes!
In September we purchased 2 duplexes that share a parking area. Since then we have increased the cash flow by $601.00 per month. The previous landlords never increased the rent once a tenant moved in, so the rents were $600, $625, $625 and $700.
Here is what we did:
The $600 rent put in notice at closing, we rented that unit for $825 =$225
Increased the rent starting in January for the 2 at $625 to $700 =$150
The $700 unit just put in 30 day notice and we have it rented for $825 in January =$125
We passed the expense of trash service back to the tenants saving $66 month
called around for snow and lawn service and saved $35 per month.
We know the numbers could be better, but were surprised how fast we were able to turn it around!