Here’s another clever idea on how to make extra income from your existing rental property?
On your behalf, I cornered BiggerPocket’s Brandon Turner at a conference and wouldn’t let him go until he contributed to our idea pursuit. Brandon suggested that if you have a real estate license, you could collect commissions if you helped your tenants buy homes.
Click HERE to check out my guest post.
In the article, you’ll learn:
1 – How to set up your lease agreement so you have an advantage over other relators.
2 – Two real examples of relator that cashed in as their tenants moved out.
3 – Some good tips to add to your tenant screening process.
To learn more tactics, check out my new book 40 Ways to Increase the Net Income of your Rental Property
Great idea Al. I just got my RE license for that exact reason. I saw many of my tenants buying homes, now I am in the process of selling two tenants a home.
Thanks for sharing. Over the years, about how many homes have you sold to tenants?
Great strategy as a way to further expand your income opportunities. it is the perfect opportunity. Your tenants recognize you, like living in your property, and thus, will find you as a trustworthy source for their next home purchase.
A quick update. I just sold my first house as a landlord to my tenant. I have two more this year that will be buying, and one just moved in and will be buying. A great marketing technique for incoming tenants too.
Congratulations!!!!!! Thanks for sharing. I’m cheering you on.