HOW TO TURN YOUR HOME INTO A CASH GENERATOR!!!

NOT QUITE READY TO BE AN INVESTOR? DON'T HAVE ENOUGH CASH TO BUY ANOTHER PROPERTY? DON'T WANT THE RESPONSIBILITY OF BEING A LANDLORD? WANT TO TEST THE WATERS? JUST NEED SOME EXTRA CASH? WHATEVER THE REASON YOU HAVE A NEED TO GENERATE SOME CASH FLOW AND YOU HAVE AN AHA! MOMENT AND REALIZE THAT YOU HAVE SOME EXTRA SQUARE FOOTAGE THAT YOU CAN TURN INTO CASH RIGHT THERE ON YOUR OWN PROPERTY!!! IT COULD BE A SPARE BEDROOM, ATTIC SPACE, A SHED OR GARAGE OR A REC ROOM/FAMILY ROOM. ALL OF THESE AND MORE ARE GENERATING CASH FOR PEOPLE JUST LIKE YOU EVERY DAY OF THE WEEK!!! YOU ARE ONLY LIMITED BY YOUR IMAGINATION AND THE LAWS OF YOUR COMMUNITY.

AS THEY (WHOEVER THEY ARE) SAY, "WE LEARN FROM HISTORY"--THINK BACK TO THE DEPRESSION AND WORLD WAR I AND II WHEN PEOPLE TOOK IN RENTERS TO HELP THE WAR EFFORT AND THEIR POCKETBOOKS--ALSO WHEN FAMILIES USED TO LIVE TOGETHER. ONE FAMILY LIVING IN A LARGE HOUSE WITH EMPTY SPACE IS A RATHER UNIQUE CONCEPT OF RECENT TIMES. AND A WASTE OF MONEY AND SPACE WHEN YOU THINK ABOUT IT. SOMETHING THAT BECAME POPULAR IN THE 80'S WHEN FINANCIAL GURU'S URGED THE PUBLIC TO BUY AS LARGE A HOUSE AS THEY COULD. TIME TO TURN LEMONS INTO LEMONADE AND GET SOMEONE TO HELP YOU PAY THOSE OUTRAGEOUS UTILITY BILLS? AND HELP YOU SAVE DOLLARS FOR YOUR INVESTMENT PROPERTY? JUST USE SOME COMMON SENSE IN WHO YOU RENT TO!! FOR INSTANCE, IF YOU HAVE SMALL CHILDREN YOU DON'T WANT TO RENT YOUR SPARE BEDROOM TO A REGISTERED SEX OFFENDER. A GRANDMOTHERLY TYPE WHO WILL READ THE CHILDREN A STORY WHILE YOU PREPARE DINNER FOR YOUR FAMILY WOULD BE THE PREFERRED TENANT. YOU CAN AND SHOULD DO SOME BACKGROUND CHECKS. THERE ARE PROFESSIONAL SERVICES THAT WILL DO THIS FOR YOU AND A POLICE BACKGROUND CHECK IS AVAILABLE TO ANYONE WHO REQUESTS IT. THE INDIVIDUAL SIMPLY TAKES THEIR ID INTO THE POLICE DEPARTMENT. MY LAST TENANT PAID $35 FOR ONE. DO YOU HAVE A REC ROOM OR FAMILY ROOM WITH A SEPARATE ENTRANCE THAT HAS AN ATTACHED BATHROOM?--IF YOU CAN SHUT IT OFF FROM ACCESS TO THE REST OF THE HOUSE, IT MAKES AN IDEAL EFFICIENCY; JUST ADD A MICROWAVE AND SMALL REFRIGERATOR.

YOU WOULD BE AMAZED HOW MUCH YOU CAN GET FOR A GARAGE OR ATTIC AND SHED SPACE!

I HAVE A CLIENT WHO IS PUTTING SHEDS (THINK SHE SHED) ON SOME OF HER PROPERTIES AND PUTTING BATHROOMS IN THEM; THUS CREATING ADDITIONAL UNITS FOR RENT WHERE THERE WEREN'T ANY. YOU COULD ALSO DO THIS WITH TINY HOUSES. THIS MIGHT BE MORE THAN YOU ARE PREPARED TO INVEST UNLESS YOU HAVE VACANT LAND AND ZONING TO WORK WITH. BUT IF YOU HAVE LAND AND ABANDONED BUILDINGS IT IS SOMETHING TO CONSIDER THAT CAN BE DONE WITHOUT BUYING MORE PROPERTY.

THERE ARE SITES THAT YOU CAN ADVERTISE ON FOR FREE TO RENT YOUR ROOMS AND YOUR GARAGE, SHED ETC. SPARE ROOM.COM (ROOMS) AND NEIGHBOR (SHED AND GARAGE SPACE) ARE TWO. LET YOUR FINGERS AND THE INTERNET DO THE WALKING! (AND TALKING)! YOU DO THE SCREENING AND DEPOSIT THE MONEY IN THE BANK! DON'T FORGET TO COLLECT DEPOSITS!

NEXT WEEK HOW TO FIND GRANTS FOR INVESTMENT PROPERTIES!