REI Wealth Monthly Issue 11 | Page 28

LOOKING FOR STABLE AND PASSIVE CASH FLOW? BEN LEYBOVICH • Ask yourself “Is this building (where it is and what it is), something that is attractive to me? Is this where I would want to live?” It doesn’t have to be in perfect condition. But you do need to know how much money you would have to spend to bring the property into a condition that’s attractive to people, and if it make economic sense to spend that kind of money. • What about the layout of the unit? Are the bedrooms 8’ x 8’, so you can’t fit a bed in there? We can replace carpet, but it’s very difficult to change the layout of the unit. If your unit doesn’t have, or there’s no possibility of creating amenities that people like, then how desirable is it going to be? If your unit or your building isn’t desirable (where it is, what it is), how are you supposed to attract the kind of people that are going to pay on time, be respectful to you and your property, and be respectful to their neighbors? Those people know what they want, and it’s not what you have in this building. So, why are ??R7W'&?6VBBF?P???v?GW&???fW"&FR?BF?R??v?W?V?6R&F????( ??F?W&R&R??wV&?FVW2??F??2?"??'W6??W72???vWfW"?WB??W'6V?b????W"?FV?F??FV??G>( ?6??W2??v?BF?F?W?v?C?v?fRF?BF?F?V??6???RF??B??v?F?B?26?7BVffV7F?fR?BV6????6???fV6?&?S??b??R6??F??2?2v??B'V??F??r??b??R6???B??B??R&R?????????rBF?R?V?&W'2?@????BWfW'?F???rV?6R???R??vWB76?fR66?f??r?'WB??^( ?&R??Bv???rF?vWB7F&?R?7F&?R?2v?BvP??VVBF??VWW2??F?Rv?R??( ??F?W&^( ?2??F???r6W??&?WB&V?W7FFR????F?B?N( ?2?V?2F??V?B??B7F&?R?2F?&R'B?bF?P?WVF?????