Charge Extra Person Fees - 101 Street Smart Cash Flow Accelerators #52

Lou Brown

Jul 19 2019

Welcome back. It's Lou Brown with another of my amazing hundred and one street-smart cashflow accelerators. I've been in this business over 40 years buying, holding and selling property and I've learned a lot of valuable things. And one of the things I talked about in number 51 was the use of profit centers and adding in profit centers into your agreement because people are number one, willing to pay them if you're willing to offer certain things. And now number 52 is charge extra person fees, extra charges when people move in. Now what this means is let's say that somebody is applied for your property and there's two adults and two children and then you find out later that there's additional people living in the property. Now that only happens a lot. So, so I want you to be aware of that, uh, that in the agreement we actually have built into our standard rental agreement on amazing additional profit center for you that says if you're going to move in additional people, then you're going to pay $100 per person.

Now, another clause says it's, if you don't tell us about that, then it's retroactive to the beginning date of the agreement. So let's say we find out about these extra people a year into the agreement and they didn't tell us about, let's say that they've got two extra people in there. Well that's 200 additional dollars per month that you could be collecting on these extra people that are producing additional wear and tear on your property. You should be paid for. They didn't tell you about them in the beginning. They weren't approved by you. You don't know these people and their income was not considered in approving this transaction. And so what we like to do is actually just build it into the agreement so that if they do tell us about it, then it begins to be $100 per person. If they don't tell us about them, it's retroactive to the beginning date of the agreement, what to create compliance. That's what you're doing. You're creating compliance to your rental agreement because it's a very powerful document. But if you don't use it for what it's designed for, you can put yourself in a position of hurt baby. All right, so like this, share this and do subscribe to our channel and I hope to see you soon. Join me at my other coming millionaire jumpstart event. It's three days of nonstop information. Www. Billionaire jumpstart.com yeah, bang.

Lou Brown has been buying, selling and holding property for 40 years and you are about to discover what a lot of so called gurus are missing.

* How to buy all the property you want without ever visiting a single bank or needing to qualify for a loan…

* How to have a buyer or renter before you even buy property…

* How to have them already pay you money before you sold them anything…

These are exactly the kinds of deals he does day in and day out. Most 'investors' are getting it wrong. It's not about the property, it's about the buyer. Buying right and buying cheap is what you'll do after you have the buyer.

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Real Estate investors in all fifty states across Canada and fifteen foreign countries including as far away as Australia and New Zealand, have long regarded the training, systems and forms created by Louis Brown as the best in the industry, Quoted as an expert by many publications and authors, “Lou” draws from a wide and varied background as a real estate investor having been buying property since 1976.

He's invested in single-family homes, apartments, hotels, developed subdivisions and built and renovated homes and apartments. Each of these experiences has given him a proving ground for the most cutting edge concepts in real estate today. He's widely known as a creative financing genius with his deal structuring concepts.

Being a teacher at heart he enjoys sharing his discoveries with others. He has served the industry in many volunteer positions such as past President and designated lifetime member of the Georgia Real Estate Investors Association, the world's largest real estate investor group.

He is also founding President of the National Real Estate Investors Association, which serves as the umbrella association of local investor groups.