All Forum Posts by: Joachim Lassen

So I have bought my first 5 plex. And I would like some inspiration on how to improve cash flow. I will, however, try to make the thread as wide as possible, so that many people might find things that they can use. Thus I just want to hear as many suggestions as possible. Here are a few I'm planning to do:

1) Add meters. Not everything is metered in the building. I'm looking to meter everything - warm water, cold water, and electricity.

2) Remove grass. Grass is high maintenance. On the property, there is a small patch of grass that needs mowing 1-2 times a week. I'm planning to remove it and instead place some nice granite gravel, this will improve the overall look and the tenant that now mows it for the price of free electricity, will instead pay for all utilities and I will spray it twice a year with some kind of weed remover. 

3) Decrease cleaning. When I took over the property, there were cleaners coming 2x a month for a total price of 800$ a year. I decided not to continue the contract and clean myself for a few months just to get an idea of how long it took and how often it was nassacery. I found that you can decrease the amount of cleaning to 1 time a month and not end up with a pigsty without any problem. Thus I should be able to cut the cleaning bill by 400$

I'm looking at improving storage space and renting it out. 

So let me hear how you have cut costs or increased revenue? Did you rent out a parking spot? Installed a new kitchen? 

@Arish Ahmad But as a rule. Denmark is a difficult place to do creative finance.

@Arish Ahmad You should disregard anything on here regarding law. Just focus on the mentality, the drive and attitude. Use rules as guidelines but remember Denmark is a different animal in regards to supply of houses, demand and a multitude of other factors. Good luck

I thought about it a lot since I am about to get married and will be bringing about 80k more into the marriage and a real estate company. However I have decided not to. I want my children to have a Mother, who can spend as much time with them as possible even if we get a divorce. And if I can succeed in making a great company perhaps neither her nor I have to work after a divorce. Tough subject though.

Hello

I'm a 28-year old guy living on the West coast of Jutland with soon to be wife and my small daughter. After a quick look around on both Facebook and the internet, in general, it seems like no-danish based property invest forums exist (perhaps I should start one?). I then stumbled across the podcast and loved it! So here I am. I'm doing small scall property management on the side of my full-time job, but I hope to buy my first rental this year. I hope to get general knowledge, ideas etc. as I think a lot of the challenges are the same for all investors despite differing laws between the US and Denmark.