Traditional landlording is dead. Period.
May it rest in peace.
Now Let’s Move On
The internet is here. Smart phones are here. Watches that receive texts, control devices, and notify you of your emails are here.
Let’s stop running our rentals as if these things don’t exist. Let’s stop thinking we don’t need to make any adjustments.
Open yourself up to the fact that we rental owners have more money-making ability than ever before.
I’d like to help you expand your imagination by explaining why you need to turbo charge your rental.
What’s a turbo charger?
The first turbo charger was invented in 1925 by an engineer named Alfred Büchi.
Alfred was the first to successfully direct a car’s exhaust (wasted energy) into a device that used it to draw in fresh air. The additional fresh air made the car’s engine perform better. As a result, the car could travel 30 – 40% farther on a tank of gas.
This device is a HUGE blessing to all car owners.
If you stretch your imagination… and put your landlord thinking cap, you’ll see that you need a turbo charger for the following reasons:
Reason 1: To harness your rental’s wasted income potential
Reason 2: To reduces rental expenses
Reason 3: To bring you more of what you need
Now, doesn’t that sound like something you need for your business?
Do you see how a turbo charger for your rental might help you achieve your financial freedom faster?
I imagine that Alfred Büchi felt the engines of his day were good but NOT good enough. Those around him may have thought their car engines were fine – “it beats nothing… ha ha.”
But Büchi wasn’t content. He was probably irked by the sight of hot exhaust bellowing out of tail pipes. The squandered potential must have pissed him off.
He likely muttered, “That energy should be put to work!”
So he did something about it.
Are you of that mindset with regards to your rentals. Are they good enough?
Wasted potential prolongs your financial freedom
I bring up this illustration so you might feel the angst I feel about traditional landlording.
Like Alfred, you should go after your rental’s wasted potential. The waste should irritate you. Adopt his constructively discontent mindset.
You know you’re not capturing your rental’s full potential. Don’t shrug it off – grapple with it.
After all, the lost opportunity hurts your cash flow. It’s steals from your children. It’s prolongs your financial freedom.
Leading Landlords shouldn’t accept status quo performance. We should bolt on turbo chargers!
A couple hundred dollars of net income per month is alright… but it’s not sufficient. It’s not enough to cover the annual costs associated with maintaining a beautiful rental. It’s not adequate to keep you from having to use to a credit card to cover a sewer line repair. Let’s not fool ourselves.
All of us bought rentals thinking they would bring us extra spending money. But, when all is said and done, at the end of the year, rentals with typical mortgages barely cash flow.
We need high-performing, turbo-charged rentals! We need to capture and harness all of our potential.
Your rental’s potential
Your rental has the ability to:
- Serve as a transmission tower
- Be a transportation hub
- Be a billboard
- Serve as a mini-storage
- Provided short-term housing solutions, and
- Produce power
- Plus a lot more…
Are you going to try to capture some of that earning potential? If not, build a turbo charger.
It’s the Production, Not the Factory
I believe that one rental, when operated to its full potential, can replace your day job’s W-2 income.
…I hear you laughing.
……Stand in line to call me crazy.
I invite you to join me on the next phase of my journey. I am going to publicly prove this point.
And let me say this, over the next few years, you’ll make a lot more money with fewer rentals if you adopt my way of thinking.
So look for ways to get more money out of your rentals. Find more ways to reduce expenses. And be on the lookout for more resources.