Investor Rents Rooms for Higher Cash Flow
Real Estate investors can rent rooms and get a higher cashflow than renting the unit out to 1 family. Meet Greg Wright, a Philly based real estate investor. I met him the moment I walked in the door at the Valuetainment Vault conference in Dallas. We started talking like old friends I feel because like energy attracts.
He's buying 3 and 4 unit buildings in Philly and renting out each room. Further he's expanding his buildings and adding more bedrooms to the existing structure to increase his cashflow. I was amazed at his high thought process and thinking ability. He stretched my thinking even though I'm 10 years older. It always excites me when young people have big visions and don't feed into the hype of having to be included in the "system". This is just one more WINNER I met and I'm so thankful I positioned myself to be around winners. Greg is going to tell you how he does that as well. It doesn't matter your age, you can do this business!!!!
Comments (1)
@Kris Haskins I own a 4 bedroom home in Hampton where I rent individual rooms rather than SFR to increase cashflow. The only drawback I've seen is in the area of paying expenses for utilities. However, I typically see double the cashflow than I would for a single tenant.
Pros - cashflow, buffer against vacancie
Cons - shorter term tenants, wear and tear on the unit
Marsay Winder, about 5 years ago