Yep, every business wants some positive cash flow (at least every ethical business does). We’re happy to say ours has increased twice this week.
This house is finally and completely closed, so we are no longer renting it to the family who lives there. They own it! We wish them many happy returns and many happy years in the lovely neighborhood. I’m glad we were able to be patient and wait until their financing worked out, but it sure did seem like a long time.
Villa Park A
You may have seen that Lee and I had put this property back on the market, and the front unit was for rent (we were sad to lose some great tenants). Carol has been working hard, and we now have an approved rental application, so the cash will start flowing from that soon. Plus, there is a fellow investor interested in buying the property so THEY will have some cash flow. We’ll let you know how that works out.
Of course, now I’m thinking that would be an ideal property for rain gardens, but let’s move forward and do that on a new property, OK?
Helping Fellow Investors Get Positive Cash Flow
Speaking of the Villa Park property, Lee is in court today, testifying on behalf of a homeowner who wants to have a setup like ours, but their neighbor doesn’t want them to. I’m not sure exactly what the deal is (and probably wouldn’t give details if I did), but Lee will be able to share that our house has not brought property values down, and our two-family property hasn’t bothered the neighbors on either side (ha, all we did was provide some work for the contractor next door!).
The worry with rentals is that some obnoxious people will show up and “bring down the neighborhood,” but our practice of screening applicants and charging a bit more than average rent (because the units are so nice) seems to have brought only the good citizen types to Villa Park. This practice is worth considering, isn’t it?
We hope all you readers are doing well. Share any news that you may have!