During the month of October, we will have closed on (3) new rental properties (assets). Each of these three is currently rented and generating positive cash flow (rent - minus expenses = whats leftover = cash flow).
The one property I am exceptionally proud of, as we were able to pick it up for a good price. It did need alittle rehabbing, but when you pick it up at such a good price, it enables for the cost of rehabbing to be "built-in".
For example, if you pick-up a rental, which averages around $20k in Central Illinois, USA, you're still likely going to have to put some invest (rehabbing) into it, to make it liveable/rentable, therefore bringing your total investment in that property to around $25-30k, depending on what is needed. If you are able to pick-up the rental for under $20k, the cost of the repairs can be "built-in" and hopefully, you can get the house, rehab it and get it rented for under $20k.
Nonetheless, we're looking forward to an awesome and explosive month of growth. With November right around the corner, my family is going to head down to Talladega, Alabama, this weekend for the NASCAR Craftsman Truck and NASCAR Sprint Cup Series races. When you buy assets, you can afford alittle rewarding of yourself.
Remember in business, you pay YOURSELF first, then the bills.
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