It seems a long while now since we heard every other person talking about programmes such as location, location, location! In fact, it is probably the last thing that most investors are worrying about at the present time.
The word on the lips of landlords and property investors more so nowadays, is cashflow, cash flow, cash flow! After all, this is the single biggest challenge that is facing us in the current economic climate. Buying more property is off the radar for most investors and instead it is a case of now getting their ‘property house’ in order.
So what does getting our ‘property house’ in order mean exactly?
Well, the key focus is to make sure that we get better organised in all aspects of our property business. This involves:
a) Improving cash flow – looking at ways of how we can reduce our expenditure and boost our property cash flow
b) Minimising taxes – understanding how we can legitimately reduce our tax liabilities on our rental income and making sure we offset all relevant expenses
c) Improve property management – understanding our legal requirements as landlords and ensuring all of our obligations are met. You may want to use our property management software to help with this.
